Walmart is shifting to digital price tags across the chain's 2300 stores. Here's why.
What is dynamic pricing, also known as surge pricing?
Dynamic pricing, also known as surge pricing, is a pricing strategy in which businesses adjust the prices of their products or services based on current market demands1. This strategy involves raising prices during periods of high demand and lowering prices during periods of low demand to maximize revenue and profit.
How did Daniela Boscan describe the impact of the new technology?
Daniela Boscan described the impact of the new digital shelf label technology as a significant shift in managing pricing, inventory, order fulfillment, and customer interactions, leading to increased productivity and a better shopping experience for customers.
How many Walmart stores will implement digital price tags by 2026?
Walmart plans to implement digital price tags in 2,300 of its U.S. stores by 2026. This transition aims to improve productivity, reduce operational waste, and enhance the customer shopping experience. The digital shelf label technology allows employees to update prices using a mobile app, saving time and streamlining the process.