According to recent studies, 80% of the customers prefer businesses providing personalized shopping experiences. Moreover, several marketers have observed a 20% rise in overall sales due to customized experience.
It is easier to provide a personalized experience in online business. But, how can a retailer offer the same experience to “in-store” shoppers? Fortunately, the advancement of technology is at your rescue. With the help of IoT (Internet of things) solutions, specifically digital price tags, you can elevate your retail business.
It allows the retailer to create a connection with the customers, better shelf maintenance, and create real-time realograms displaying.
Let’s learn more about how digital price tags can help your business.
- Accurate Pricing
Generally, retail stores use paper labels to display the product price and discounts. It is quite outdated, and paper can tear apart easily. Moreover, the employees can also confuse the numbers. Thus, leading to wrong information.
Using digital price tags (or electronic shelf labels) is much more convenient. The tags are connected to a cloud server. Thus, it makes it easy to update the product price or discount offer with the help of a central server controller. It helps inaccurate pricing, thus reducing the chances of any price integrity issues.
- Improved Shopper Engagement
The benefits of Digital price tags are not limited to the pricing updates. It plays an even more significant role in providing necessary information to the customers. According to experts at Ses-imagotag, ESL is similar to a “micro web page.” It includes data related to the in-store or online availability of the products, consumer ratings, and promotions. It helps in improving the overall shopping experience of the customers.
In addition to this, customers can also have access to information like in-door navigation, product geolocation, and nutritional information. Thus, the customers can take their time and make a well-informed decision.
- Save Time
As mentioned above, in paper labeling, the employees need to manually update the prices on the product shelf. Needless to say, it’s a very time-consuming process. However, that’s not the case with electronic shelf labels. Using the cloud-based management application, the retailer can effortlessly update the labels. It’ll help save a lot of time and material that is generally used to produce and replace other tags.
Not to forget, you can also avail the benefit of dynamic pricing. The prices can easily change according to the prevailing situation. For instance, increasing costs due to high customer demand. Or reducing the price for selling quickly. Believe it or not, these little things help improve the “in-store” efficiency to a great extent.
Moreover, the retailers will also get information about the shortage of inventory. So, they can take immediate action to refill the inventory and keep the customers happy.
To sum it all up!
Digital price tags are an incredible advancement for retail businesses. This not only benefits the retailers. But also helps customers to make more informed decisions. Overall, elevating the customer’s “In-store” experience. Considering all these benefits, you must start using digital price tags for your retail store ASAP. It will help you change the retail game forever and set a benchmark for your competitors.