As the digital shift is taking up the routine trades by storm, the offline businesses are matching up the pace. Today, most of the buying experiences begin online. And out of these queries, more than half are for local businesses that do not operate online.
In times when people are resilient to make physical contact with anyone, retail stores are having a hard time. But, thanks to the digital price tags, the risks of physical contact and acquiring the Corona Virus have reduced significantly.
Not just that, the digital price tags are also transforming the marketing strategies for these businesses.
Want to know how? Keep reading.
Real-Time Pricing Updates
Traditionally, retail stores put and place paper labels on every aisle of the store. This not only increases the cost of labeling but also can create delays in pricing updates, sometimes.
On the other hand, digital price tags do not pose any such troubles for retail stores. With just a click of a button, the pricing can be updated in real-time. For example, if any product is replaced the pricing can be changed and updated right away. There’s no need to edit the paper prints and replace them for every aisle.
Dynamic Advertising
Digital price tags are electronic screens. So, they can actually display short video clips or advertising copies as well. While, for in-store advertisements, retailers would either be placing big screens overhead or signboards and banners. This could be very costly. Not only does it include the cost of stationery and equipment but also because of the low conversion.
Most customers would usually be looking at the pricing labels and they might easily miss on the overhead ads. On the other hand, placing ads written next to the price tags can guarantee more conversion. For example, SES-Imagotag’s digital price tags can be customized to display relevant ads to the buyers. It would not only improve more conversion but also customer experience.
Live Inventory Management
Since we are discussing customer experience, a crucial part of it is also the stock availability. Studies reveal that customers are less likely to return to a store if they find their products out of stock. In other words, keeping an eye out for the inventory and stock can make a lot of difference to the customer experience.
An added feature of the digital price tags is that they can maintain stock availability. The retailers can easily procure the data about stocks on shelves and the in the warehouse.
Positive Customer Feedback
According to a survey, the stores that are using digital price tags have, so far, received more customer walk-ins. It’s not only the millennials, but people from all demographics are endorsing technology-led businesses.
To put this into perspective, electronic displays are more likely to grab people’s attention. And likewise, are more likely to induce buying decisions of the customers. More so, all the added features of digital price tags also help earn customers’ trust.
The Takeaway
Even with all the convenience of online shopping, and the pandemic still going on, there is a huge global population that prefers buying by hand. And for those, retail businesses are still as important as before. But, to prevent those customers from shifting to the alternatives, the retail businesses also need to include smart technologies. The digital price tags are just the right technology solution for these businesses.
This is a Sponsored Post – the author has requested this post be shared on Women in Ecommerce blog and WE were compensated for sharing.
