New Retail | Electronic price tags are the future of offline physical retail

With the rise of e-commerce, offline brick-and-mortar retail stores are facing increasing challenges, and brick-and-mortar stores without brands and word of mouth have closed one after another. As an offline physical retailer, we urgently need to solve the dilemma of less offline consumption today!

According to the interview, 67.8% of shoppers believe that they have no time to buy offline because of their busy life and work, while 33% of shoppers are more inclined to go offline to experience the fun of choosing products! As this study and a recent McKinsey & Company report suggest, electronic shelf labels are the answer to today's barriers.

01Realize automated retail

As offline brick-and-mortar retailers, our primary need is to satisfy customers who come to experience them. If consumers want more services and a better experience, then we can fulfill those wishes too. In the survey, 31% of shoppers surveyed chose smart electronic price tags as the top technology service implemented in the stores they shop. A new report from consulting firm McKinsey shows that electronic price tags will help improve the customer experience and potentially increase store profitability by 1-2%, along with other in-store assets to drive sales.

The use of paperless electronic price tags can realize the connection between online and offline, and automatically modify the price to achieve the purpose of flexible promotion. Reduce in-store labor and time costs and allow retailers to deploy more pricing and product updates quickly, flexibly and consistently.

02Electronic price tag return on investment

1. In addition to accurate pricing, smart electronic price tags can display more information and provide customers with more benefits, such as access to the latest product information - nutritional information, sources, unit prices, etc. This is especially true in areas such as grocery, consumer electronics, pharmacy, and DIY, where product information, for example, can change as quickly as price.

2. Deep integration of online and offline: smart price tags support O2O applications, and QR codes combine online and offline to promote the transformation of traditional retail intelligence

3. Multi-channel shopping experience: users who come to the store, enter the applet by scanning the code, shop online, and have the opportunity to become a member of the merchant and increase the repurchase rate;

4. Precise advertising marketing: smart price tag + applet, consumers can easily generate additional consumption when they see advertising activities, and generate corresponding user portraits by scanning the code to the applet to further realize the push of precise marketing

5. The high-definition color large screen of the intelligent price tag makes the display of commodity information clearer and improves the shopping experience of consumers.

6. Commodity, price tag, shelf binding, standardized display, make the shopping mall environment cleaner, improve the overall image of the store, and be more high-end;

7. The whole process is paperless, saving consumables, green, environmental protection and energy saving