Promotions. Love them or hate them, they are a critical component of operating a retail store today. You know them – SALE! 50% off today only! Buy 2 Get 1 Free! Free espresso and puppies for all children TODAY ONLY! (well… maybe not that one). Needless to say, the magnitude of online retailers has conditioned consumers to expect deals – on a constant basis.
But let’s be real. Promotions are DIFFICULT to manage for physical retailers. Not only are you giving up a piece of the pie – trading the hope in for higher margins for increased volume, but the task in-store is tough. Think about it – an online competitor runs a promotion and all they have to do is change the price in the ERP and BOOM, promotion is active.
You, however, have more to worry about than that! Not only must the ERP or POS system be updated to match the new promotion, sales tags must be changed, signage installed, staff sent into the store to remove old tags and add new tags. All the while management HOPES the message gets out, HOPES that the tags get removed and that the ones go up . And then, days later, the sale is removed, tags removed again, original tags reprinted and installed. Run too many promotions and you risk burning your staff out and inadvertently creating pricing mistakes sprinkled throughout your store and ultimately the check out counter.
Get rid of the variability, the mistakes, the labor associated with price changes, the paper waste, the confusion and the headache of maintaining a promotional strategy in your store. Create a more dynamic environment that allows you to compete with the velocity of online sales – and make it EASY.
Electronic Shelf Label’s allow all of this, and more. Simple and attractive digital price tags that sit on your shelf edge that change within moments with accurate (and verifiable) price changes. Displays that can communicate to customers not only the most recent price, but things like reviews, QR tags for finding more information, detailed descriptions, images and more.
And for those of you with your own store app, integrate ESL’s with bluetooth beacons built-in to allow advanced campaigns that can target individual consumers in real-time as they walk through your store.
Through technology, create a dynamic and exciting environment for your customers. Make your staff happier (which ultimately leads to more sales efforts). Create a lighter environmental impact. But perhaps most importantly, generate a larger profit at the end of the day by leveraging this technology to your benefit.