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Digital Price Tags- The New Opportunity For Retail Innovation

Digital Price Tags- The New Opportunity For Retail Innovation
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Retail selling is more challenging than ever today because customers look for the best experiences as they step in to buy stuff from stores. As a result, businesses need to embrace innovation to stay one step ahead of consumer expectations. The replacement of the simple commodity price tags with digital price tags is one of the innovations that are fast becoming a norm in this segment. There is much that this technology can do for your business when it comes to enhancing the in-store buyer experience and improving the efficiency of the business. Here are some opportunities that make digital price tags a must-have for forward-thinking retail businesses.

Convenient price changes

Retailers need to play with dynamic pricing based on seasons, offers, and competition in the market. With paper labels, the price change process often gets cumbersome as you need to work manually on pricing adjustment, tag printing, and change at the shelf front. Electronic tags make things much simpler as they operate in the cloud. Modifying and refreshing prices is as simple as a click. The best part is that you can do it together for hundreds of products and in only a few minutes.

Reliable product information

As retail embraces an omnichannel approach, merging online and offline becomes the mainstay of great shopping experiences. Digital price tags can play a key role in synchronizing online and offline commodity prices, so there are never gaps or errors. Your customers see the same prices everywhere, which unifies their experience and fosters trust for the brand. At the same time, you need not make massive efforts to manage the dynamic prices because these smart labels do all the hard work.

Extensive cost savings

Although the investment in electronic price tags is much higher than that in paper tags, it can bring extensive cost savings in the long run. For example, SES-Imagotag empowers your retail business with multiple features, from pricing automation to product geolocation, digital promotions, shelf monitoring, and more. The solution has the potential to modernize retail without costing a fortune. A switch from paper to digital drives sustainability as well.

Timely promotions

Retail stores often have high foot traffic and heavy workloads during holidays. If something goes wrong, it gets hard to manage and rectify the situation. For example, an incorrectly printed label can spell trouble because you may not have time to replace it. With smart tags, you get the advantage of one-click price change for managing promotions and rectifying errors even during the busiest times. You can handle the entire process quickly, efficiently, and accurately.

Multi-store management

Digital price tags can also help businesses with multiple stores to run more efficiently with a unified pricing management system. There is never a chance that the same product will show different prices at two different locations, no matter how large your retail business and product range is. Moreover, you can easily view the prices of items in each store in real-time.

The smart electronic price tags can give a winning advantage to your retail business and modernize it to the core. If you haven’t invested in them yet, now is the best time to go ahead.