Walmart adopts electronic shelf labels, following other supermarkets. What it means for you
What specific capabilities do electronic shelf labels offer in terms of price adjustment at grocery stores?
Electronic shelf labels (ESLs) offer grocery stores the capability to adjust prices in real-time, allowing for dynamic pricing strategies. Prices can be changed as often as every ten seconds, enabling retailers to respond quickly to factors like demand, time of day, or competitor pricing. ESLs can also be programmed with pre-defined pricing rules based on certain variables, such as time of day, day of the week, or specific date ranges. This flexibility and responsiveness can help retailers optimize profit margins and enhance competitiveness.
Why are retailers like Walmart implementing electronic shelf labels in their stores?
Retailers like Walmart are implementing electronic shelf labels in their stores for several reasons. Firstly, they allow employees to change prices quickly and efficiently, which can be beneficial for products near expiration or in high demand. Secondly, they can provide useful product descriptions and details when scanned with a mobile device. Lastly, they can help retailers ensure consistency between online and in-store pricing, reducing confusion for customers. Additionally, the increased productivity and reduced walking time for employees can save labor costs.
How do electronic shelf labels assist in providing additional product information to customers?
Electronic shelf labels (ESLs) can provide additional product information to customers through various means. Barcodes on the labels can be scanned using mobile devices, directing customers to more detailed descriptions or product reviews. ESLs can also display nutritional facts, size, price per weight, stock remaining, and other relevant information. Furthermore, some ESLs support Near Field Communication (NFC) and Quick Response (QR) codes, enabling customers to access even more product details, promotional offers, or price checks by simply placing their mobile devices near the shelf label. This enhanced information accessibility can significantly improve the overall shopping experience for customers.