Problems with paper price tickets
In more advanced markets like Europe and Asia, many retailers have moved away from paper-based ticketing systems. This is due to the many limitations of the paper-based approach, which lead to inefficiencies in process, decreased sales and declining margins.
Suppressed price changes
Most retailers we speak to, tell us that they would like to change prices more often than they do. Price changes are frequently suppressed unless deemed 'essential', due to the effort of implementation.
Higher wages during public holidays, foreign exchange rate fluctuations, competitive promotions, and variations in supply and demand, are all examples of when businesses wish to have an alternative pricing system to paper tickets.
Retailers using paper price tickets have no way to compete in an agile manner with their online counterparts and are constantly at risk of losing sales or margins as a result.
Staff unable to focus on customers
You've done the hard part, the customer is in-store and willing to buy, but if they can not find a sales assistant to answer their questions, they will likely not end up purchasing the item. It can even reduce the possibility of the customer coming back at all.
If staff are too busy implementing price changes during business hours, they may well miss customers looking for purchasing advice. This is true of all sectors but is especially important for bigger ticket items.
Freeing up staff from this task generally increases in-store sales conversions.
Increasing labour costs
Many retailers dedicate significant resource to in-store price changes. With wages high in Australia, the cost of paying employees to do this can be significant, especially if prices change regularly.
JUST a piece of Paper
Unlike their digital equivalents, paper labels do not have the ability to dynamically display or link to further product information, such as ratings and reviews, user guides and product comparisons.
No wow factor
In contrast, electronic labels can create modern experiences for customers, using way-finding technology and mobile apps to give customers personalised recommendations, offers and more.
Contact us
Electronic pricing is becoming more and more commonplace, as retailers stop accepting the inadequacies of paper pricing for their business.
Contact Future Shelf today to find out how electronic pricing can help overcome your key business challenges.