The Advantages Of Smart Price Tag Technology

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The Advantages Of Smart Price Tag Technology
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Many retailers nowadays are turning to smart
price tags because they have a lot of advantages
compared to paper tags. If implemented properly,
the electronic shelf label technology can help
you gain new efficiencies in your business by
cutting down labor costs, managing stock,
streamlining ecommerce and providing new ways to
communicate with shoppers. It is something that
you would wish you started using in your company
earlier once you start experiencing the benefits
that it provides.
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Among the important benefits that you are going
to get from smart price tag technology include
personalization, dynamic pricing and loyalty. As
a matter of fact, dynamic price adjustments lie
at the heart of what all electronic shelf labels
are all about. Say for instance you have a
consumable inventory that needs to be sold, like
fresh bananas  that will over-ripe in the next
few days or electric heaters on the shelves as
wintertime ends.  Using smart algorithms provided
by ESLs, you can dynamically adjust the prices of
your items in order to maximize margins while at
the same time making sure that very little of
your consumables remain unsold.
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Not only will smart price tag technology provide
better stock management, but it will also enable
you to provide customers with targeted and
personalized offers based on their scanning and
buying history with those handy little price
tags. The ESLs can make your loyalty and rewards
programs more compelling. Due to the increased
digital capabilities provide by the ESL
technology, you will be able to attract younger,
more tech-savvy consumers that are likely to shop
online.  You will also have experiential stores
whose focus is on the products where people
prefer offline purchases with superb service
levels and infused with advanced digital tools,
all operating in harmony with your digital
presence.