A wireless network solution that is right for you will give retailers the tools they need to implement shelves with electronic labels efficiently. Electronic shelf labels (ESLs) are being increasingly used to display prices for products in stores. This solution for retailing wirelessly is typically attached to the top of shelves. It runs using batteries, and makes use of LCD displays to indicate the current prices of products to customers. Electronic Shelf Tags UsingNecessityBehind the scenes they are maintained via a central console that runs label management software. Additionally, a communication gateway continuously transmits all changes to the network of digital labels. In order to keep ESLs affordable, this network must deliver the requisite speed and range while keeping power requirements at a minimum. Thanks to the proliferation of radio frequency (RF)-enabled IoT devices, more and more retailers are working out ways to meet these demands. In actuality, a large assortment of retailers, including leading department stores worldwide as well as supermarkets and drug stores are using ESLs. Furthermore is that the ESL market is expanding rapidly: Global Market Insights projects the sector's compound annual growth rate will hover around 16 percent until 2024. Understanding the value of electronic shelf labels in retail Although an ESL system can be costly initially, it could save retailers time and money over the long-term. The advantages a retailer could reap from the use of electronic labels are: Dynamic Centralized Pricing: When you use centralized pricing that is, every price point is monitored and adjusted with software on a central workstation (which usually actively aligns with corporate or regional pricing fluctuations). This is much more effective, precise and economical than manually-made price adjustments. Dynamic pricing is also a possibility that allows prices to adapt to a variety of factors. Prices can be raised to meet the demands or to account for the low inventory levels; or drop to reflect the prices of competitors or sell items that are nearing the end of their shelf lives rapidly. In-store Heat-Mapping: If equipped with communications technology that connects like Bluetooth(r) Low Energy beacons, ESLs can track how customers move around a store. Tags create a heat map of the store's floor plan, revealing high-traffic areas and logging the products they hold. Automated management of inventory: Inventory management can present a problem for retailers. Automating inventory management can help reduce expenses. ESLs can be integrated with software for sales management to allow retailers to track more precisely low inventory levels and get immediate insight into when stock will become available. You can set the displays to show QR codes which direct consumers to online shopping options. To reap the potential benefits, an ESL system must be rolled out over the correct technological base. ESL cost efficiency depends on low power consumption, as we've previously mentioned. ESL systems must be capable of scaling so that they can incorporate hundreds, if not thousands of connected nodes while still allowing communication between retailers of all sizes. Additionally, in light of recent breaches at retailers like Target and Home Depot, retailers must be certain to place security a top priority as they expand their portfolio of digital services.
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