The savings and return-on-investment from using Pricer digital shelf labelsĮlectronic labels, a well-established technology, have found even greater relevance in this new world. 45% have been put off buying a complex or considered purchase as there hasn’t been enough product information available in the aisle, while 49% would like more digital signage or information at the shelf edge to help inform their buying decision. In the same research, 57% of consumers said they would like to have more access to product information in addition to pricing at the shelf edge, while a further 57% also said they would like to see sourcing / ingredients information at the shelf edge. Paper labels and their inflexibility are really the tip of an iceberg given that consumers want not just price but product information. These findings reflect a truth about the modern consumer – they are wise to how retail works and are far less tolerant of anything they regard as unfair or inconvenient. 70% would become less loyal to retailers who didn’t have pricing matched across on-and off-line channels.
In Pricer’s own research, 71% of shoppers said cross-channel pricing inconsistency frustrates them and 60% would shop less with retailers who have inconsistent pricing on- and off-line. This is about prices as well as information about products at the shelf edge and online. Incorrect prices can lead to fines, but of even greater concern to many retailers is the effect on customer loyalty. The impact of managing prices on paper doesn’t stop there. Changing prices by hand in stores that use only paper labels is also a distraction from other often more urgent tasks. Retailers are having to respond to a changeable, unpredictable and competitive shopping landscape by managing price changes, promotions and markdowns more frequently doing this manually is expensive, time-consuming and often fraught with errors. This matters more than ever because of the shortage of labour – a problem that currently sees no end – and the fact that retaining staff that are available is getting tougher.
Part of the answer comes from Scandinavia, where electronic shelf labels (ESLs) have been widely adopted to tackle the high cost of labour, a reality that retailers in the UK are now having to face. Retailers have never faced quite so many challenges inflation combined with unpredictable shopping behaviours that emerged during the Covid pandemic are stressing the entire product lifecycle – buying, allocation, ranging, assortment, replenishment and markdowns – and eating into margins.Īnd all with implications for in-store processes and labour productivity, even as wages continue to rise. Article co-written by Pricer and StrongPoint, and originally posted in International Supermarket News HERE.
0 kommentar(er)
