Leading point of sale equipment supplier POSMarket.com.au announces the introduction of electronic shelf labels by Samsung.
Recently rolled out by Samsung at the Customer Show in Melbourne, the electronic shelf labels (ESL) allow retail stores to instantly and remotely change product prices. Price updates can be done wirelessly at the store level with the pricing entered on a central server, which then sends the price data to all the price tags in the system, even if they number in the thousands.
A brainchild of Samsung's Electro-Mechanics division (SEMCO), electronic shelf labelling has been in use in Europe, Japan and Asia for some time, and Samsung is confident Australian retailers would be embracing the ESL technology with great enthusiasm over the next one to two years.
Key benefits of Samsung’s electronic shelf labelling technology include reduced labour costs from the elimination of time-consuming paper labelling; and increased productivity with in-store sales personnel able to focus more on sales and customer service, spending less time on administrative/inventory control tasks.
A major benefit would be the retailer’s ability to adjust prices to be competitive with Internet based retailers and hopefully reduce the practice of customers coming into a store to get a hands-on experience of a product, and then go online to try and find a better price.
ESL technology will allow retailers to adjust prices in real time and hopefully draw potential buyers back to brick and mortar merchants from online stores.
ESL technology can also be integrated with store video security systems capable of collecting demographic data to enable the retailer to tailor prices for a specific time of day, based on gender and age.
Electronic shelf labels can also be used to closely monitor inventory levels to be better prepared for sales and promotions.