Misconception 1: The technology is getting cheaper

Over the years the capabilities of electronic tags are improving, with increased battery life, screen resolution, software capabilities etc. And, like with most things nowadays, the cost to produce the labels is also increasing. This means that the longer you wait the more expensive the solution will be. If there is a business case established for this technology, each month/year you wait, you will be paying the price in opportunity cost.

Last week we looked in detail at the most influential element when determining the cost of an Electronic Shelf Label (ESL) project, the labels themselves – quantity, size, specifications and more. This week we’ll move onto the other elements that influence the cost of an ESL project.

1. How many square metres is the store?

In order to populate the labels, wireless access points (AP’s) are required to be installed in each store. As a general rule of thumb, each label that you wish to update should be within 15 metres of an AP.

With major retailers in Australia, like Woolworths, Aldi and Dan Murphy’s rolling out electronic label technology; demand for electronic price tags is at an all-time high.

Most business owners are aware, that this solution will help overcome many of the challenges retailers are facing, such as, staffing issues and increased volatility in pricing levels from suppliers. The most common question we get asked is “how much does electronic label technology cost?”

The answer…

Environmental and sustainability policies are becoming more and more important to businesses of all shapes and sizes. Using Electronic Pricing instead of traditional paper price labels, is a more sustainable solution. This is because no paper or ink is required for any price labels or shelf talkers.

One of the most prestigious global design competitions iF has awarded 3 different Hanshow digital pricing solutions (FutureShelfs Electronic Shelf Label technology partner) with awards this year.

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.

What are the benefits of Electronic Shelf Labels? Well, the most obvious one is the ability to be able to change prices automatically, even remotely.

But it doesn’t stop there, being able to change prices digitally has all sorts of effects on a retail business. And in addition, electronic shelf labels (or digital price tags as they’re often called), have other features, like LED lights, that are designed to help additional in-store processes.

Our infographic breaks down the 7 key benefits of electronic pricing, in an easily digestible format.

Last week we started to talk about how retailers can create a more engaging experience for customers in store. This week we’re expanding on the concept and looking at some customer experience ideas for Pharmacies and Chemists. As well as how electronic pricing can help with social distancing for Coronavirus measures.

In what's been deemed an "extraordinary" expansion of the Instant asset write-off scheme, the government is now offering a tax rebate on up to $150,000 spent before June 30th.

Purchases include new equipment and technology, such as Electronic Price Labels.

To inspire customer loyalty, retailers need to provide an in-store experience for customers to remember.

Whilst online continues to grow and evolve over time with innovations like smart-bots, online chat, as well as Facebook and Google embedded experiences; not a lot has changed when it comes to the in-store retail experience in Australia.

Paper pricing systems have been around for centuries. Globally, retailers are moving away from these antiquated systems towards their electronic alternatives.

Retailers who have done so have achieved a reduction in labour, paper and printing costs associated with price changes. Generally, supermarkets will change prices on 30 per cent of their stock each week, making it a cumbersome task for staff. Most grocers would prefer their staff focused on serving customers as opposed to changing pricing.

Sustainability, efficiency & innovation were at the forefront of the decision to roll out the electronic shelf label technology behind Future Shelf, to all European supermarkets within the Ahold Delhaize retail group. READ FULL CASE STUDY HERE

In April the government Asset tax write-off incentive was increased to $30k, for all businesses with a turnover of up to $50m/annum.

Electronic Shelf Labels are one of the technologies covered under this incentive, meaning that you could claim money back on your project….

Iveco is a leading distributor of heavy duty commercial automotive vehicles. Partnering with esLabels, the spare parts store within the Sydney dealership recently implemented Electronic Shelf Labels….

Partnering with esLabels. Treasury Wine Estates recently implemented electronic shelf labels into their wine boutique store in Melbourne, Victoria….

Although widely used internationally electronic shelf labels have been slow to take off in Australia, until recently. Independent retailers are rapidly installing the technology and we've noticed it's become a much talked about topic in the retail industry….