Sunday, May 26, 2024

Digital in-store pricing system launches in Australia

Electronic shelf label company esLabels aims to revolutionise how prices are managed in-store with a range of digital price labels designed to connect to the store POS system. This allows pricing to be managed and deployed from head office, in real time – drastically reducing labour and printing costs and streamlining a highly inefficient process.

“If you think an average supermarket holds about 40,000 types of products, many of which will have fluctuating market values that constantly affect the consumer price, not to mention the multitude of promotional prices that need to be deployed each day, that’s a lot of price changes to manage manually,” esLabels Marketing Manager Ruth Hurley said.

Real-time pricing also opens the door to a whole new realm of pricing strategies aimed at optimising sales, such as time- or event-based pricing.

“For example, a retailer can respond to a change in the market value of fish in minutes instead of days, or deliver a competitor-response price change almost immediately,” Ms Hurley said. “No longer will you experience revenue leakage from inaccurate or delayed pricing in-store.”

Electronic labels from esLabels can also enable beacon marketing strategies, such as location-triggered product offers, and functional services, such as guiding customers to a product of interest.

The labels are promoted as providing a customised solution for each business, managing everything from consultation to installation, with ongoing support.

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