Important Benefits Of Electronic Shelf Labels

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Important Benefits Of Electronic Shelf Labels
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If you have a retail business, you probably
already know that in todays work environment,
profitability largely relies on the efficient
purchasing and merchandising along with ways that
help improve both store operations and shopper
experience. One of the things than you can do to
achieve this is using electronic shelf labels.
This labeling system provides real-time product
positioning. The ESLs are the core of any
successful strategy for retail businesses as well
as the digital future of stores everywhere.
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There are quite a number of benefits of using
electronic shelf labels. One of them is price
optimization. The price optimization algorithms
that ESLs use allow retailers to adjust the
prices of their shoppers depending on various
things, including supplier prices, buying prices
and much more.  The electronic shelf labeling
system allows for immediate price changes based
on recommendations from a big data system in
order to boost revenue and growth of your
business and enhance your profit margins.
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Another important benefit that you can get as a
result of using electronic shelf labels is price
agility. Changes in price are often
time-critical. If you still use paper tags and
have thousands of products to update, it can be
very challenging or even impossible to complete
this task effectively.  When you use ESLs, they
can allow your team members to update promos and
prices on any number of products in a matter of
seconds
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Last but not least, using electronic shelf labels
can lead to decreased inventory shrinkage. The
problem with paper labels is that they can fall
off easily or be removed.  Since the electronic
shelf labels are affixed more securely to the
shelf edge, it is easier to spot inventory stock
outs and make sure that there is compliance to
the planogram.