How Electronic Pricing has changed over the last 10 years
Electronic Shelf Labels (ESL’s) have changed a lot over the past decade. A good way to think about it, is by comparing it with the evolution in smart phones, over the first 10 years in the market.
More functionality, more sleek and more reliable, would be a good way to summarise the evolution of both technologies which are here to stay.
The Early Days of ESL
Up until 5 years ago, the main ESL products in circulation were bulky, unattractive and had limited functionality. Whilst many retailers benefited from their use, the benefits achieved in the early days of their inception are minor, compared with what can be achieved today.
LCD was the main technology in use, allowing retailers to automate their in-store pricing from a centralised location. This was the main use case for the ESL’s, which did not solve many other common bricks & mortar retail challenges.
The defect rate in the older LCD labels was far higher than today’s standard, leaving some retailers with empty price tickets – not a great customer experience for those early adopters.
There was only one template for retailers to choose from, which did not allow retailers to customise their pricing tickets, to meet their specific needs. No colour options were available and the labels did not perform well in bright environments, due to glare. In most cases, you had to stand directly in front of the labels to see them.
Our latest design of Electronic Shelf/Price Label - Sleek, modern and waterproof! The winner of the 2021 Product Design Award.
Breakthroughs in ESL Technology
Despite the early LCD label’s imperfections, much like smart phones, they revolutionised the way retailers operated their stores, surging in popularity throughout Europe and Asia.
This fueled significant investment in research and development which has taken the ESL’s to where they are today. A technology with extensive applications and adoption rates in all major continents.
The main difference has been a shift to Electronic Ink (E Ink) technology, much like a Kindle. E-ink allows users to create price label templates, in any format, to meet their retail needs. E-ink is available in multiple colours, allowing retailers to highlight special offers to consumers in their stores.
Battery life has increased to up to 15 years, 5 times as long as the older generation labels. The new labels can store up to 8 different pages, meaning that you can have multiple templates programmed to run at different times of the week, without having to make any changes in the back end.
LCD lights have been added which can flash in 7 different colours, allowing for the labels to be used effectively to optimise, click & collect, stock take and pick & pack operations.
Despite being up to 4 times thinner than the older labels, new generation ESLs are actually stronger and, in some cases, even waterproof.
The screens are clearer, brighter and can be viewed from all angles, and from much greater distances.
All labels are equipped with NFC technology, the same technology behind Apple Pay, Android Pay and other contactless payment systems. NFC will soon take over from QR codes, in enabling consumer online interactions in-store. Using NFC, consumers simply hover their phone in front of an electronic shelf label, to be taken to a landing page of the retailer’s choosing. This landing page could be recipe ideas, product instructions, or sign-ups to a retailer’s loyalty and rewards club.
Each label is like a minicomputer, allowing for endless capabilities to improve efficiencies, reduce overheads and increase sales for retailers. No wonder demand for ESL is growing exponentially year on year.
Whilst many Australian companies have been hesitant to transition to e-pricing in the past, it is now a great time to explore the new technology and see how it can transform the way retailers do business.
