Industry Prospects | The global electronic price tag market has achieved rapid growth, with a CAGR of about 50% in the past five years

As more and more retailers carry out digital transformation, the global electronic price tag market is developing rapidly. According to ePaper Insight statistics, the global electronic price tag market has achieved an average annual compound rate of about 50% in electronic price tag shipments in the past five years. high growth rate.

Recently, the e-commerce giant Amazon announced the opening of five new Amazon Fresh stores (Amazon Fresh), three of which have already opened, which means that starting from the first Amazon Fresh store opened in August 2020, Amazon It has expanded to 33 stores in two years and is growing rapidly.

Amazon Fresh is a new concept supermarket launched by Amazon. Amazon Fresh is permeated with different shopping experiences brought by digital technology. As the new retail concept is more and more accepted by the public, more retailers will carry out digital transformation, and the market size of digital stores in the global retail industry is bound to further expand. In the process of digital transformation of retailers, the introduction of electronic price tags is an important part.

The so-called electronic price tag, also called electronic shelf label (Electronic Shelf Label, ESL), is an electronic paper display device with information sending and receiving functions, which can be placed on the shelf to replace traditional paper price tags. Of course, in addition to the basic function of displaying prices, electronic price tags can also realize the association between commodities and price labels, and then can dynamically adjust commodity prices in real time, realize the unification of online and offline price changes, and collect and interact with commodity data to achieve accurate The management of commodity information, etc., effectively reduces the operating cost of the store and improves the management efficiency of the store. Especially under the influence of macro factors such as the epidemic and inflation, labor costs continue to rise, and it is difficult to recruit workers. The introduction of electronic price tags greatly saves labor costs, and electronic price tags have a service life no less than paper price tags. It can be recycled and is especially applicable in terms of environmental protection, which is one of the reasons why retailers are further willing to introduce electronic price tags.

With the birth of the term new retail in 2016, electronic price tags have ushered in a period of rapid development, and global shipments have increased by an order of magnitude almost every year. According to the "Global Electronic Paper Smart New Retail Application Market Analysis Report", compared with 2015 in 2018, the global electronic price tag market has grown by more than 4 times in just 3 years, and the global electronic price tag market shipments from 2016 to 2021 are even higher. It has achieved a high-speed growth of about 50% compound annual growth rate. At the same time, observing the electronic price tag market in mainland China, it has also been on the rise since 2016. From 2016 to 2021, the average compound annual growth rate of the electronic price tag market in mainland China has also reached about 45%.

It can also be seen from the continuous growth of revenue data of E Ink, a leading manufacturer of electronic paper in recent years, that the growth momentum of the global electronic price tag market is relatively strong. In the next 3-5 years, the global electronic price tag market will continue to maintain two positions. rapid growth in numbers.