“Electronic shelf label”
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Retail Solution: Electronic Shelf Labels
Electronic Shelf Labels Grab Customers’ Attention
Background
Facing fierce price competition, retailers and product manufacturers are constantly looking for new ways to increase profitability. Simply put, this can be done by boosting sales volume, increasing advertising revenue, reducing operating costs, and minimizing inventory distortion. Addressing all these avenues, a new technology, called micro-digital signage (MDS), places advertising and product information on small digital screens mounted on store shelves—the point-of-decision for consumers.
Solution
As customers pass through store aisles, grab their attention using electronic shelf labels that play eye-catching, high-definition video and animation about products and in-store specials. Brand and price promotion messaging on a digital signage network can generally produce a sales lift of eight to ten percent, as well as impact category sales, according to Platt Retail Institute. This advertising content can also generate incremental revenue from product manufacturers who will be able to connect with consumers when buying decisions are made. An ad placement rate of USD 200 to USD 300 per month may be reasonable based on a study conducted by PRI Research. The screens can help increase the success of new product launches by making sure consumers take notice of specific shelf locations as they stroll down the aisle. Moreover, the solution eliminates the need for employees to print and attach price labels on the shelves, thereby reducing operating costs and increasing the accuracy of shelf prices.
Benefits
• Get customers to pay more attention to new products to boost sales
• Capture additional advertising revenue
• Reduce operating cost by changing shelf prices and signage electronically
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‘Electronic shelf labels’
A study led by ABI Research said that the global ESL market could reach US$2 billion by 2019.
Automated ESL systems reduces pricing management labor costs, improves pricing accuracy and allows dynamic pricing. Dynamic pricing is the concept in which retailers can fluctuate pricing to match demand, online competition, inventory levels, shelf-life of items, and to create promotions.
“E-Paper”
“E-Paper Display Market by Product Type (Auxiliary Displays, Electronic Shelf Labels, E-Readers and Other) for Automotive & Transportation, Consumer & Wearable Electronics, Institutional, Media & Entertainment, Retail & Enterprise and Other Applications: Global Industry Perspective, Analysis, and Forecast, 2016-2022’’. According to the report, global e-paper display market was valued at around USD 6.75 billion in 2016 and is expected to reach approximately USD 28.87 billion in 2022, growing at a CAGR of slightly above 27.4% between 2017 and 2022.
E-paper is a portable, reusable storage and displays medium that looks like paper but can be repeatedly written on paper thousands or millions of times. E-paper will be used for applications such as e-books, portable signs, electronic newspapers, and foldable, rollable displays. Information to be displayed is downloaded through a connection to a computer or a cell phone, or created with mechanical tools such as an electronic “pencil”. E-paper technology includes the benefits of low power consumption and sunlight readability, which results in an improved performance. The technology has the potential to compete with the established and mature display technologies, especially LCD. There is an increase in the adoption of e-paper display by the designers of consumer electronic devices due to the performance benefits offered by e-paper. Many new e-paper technologies are lined up for commercialization and will certainly help in increasing the adoption rate of the e-paper display.
Major factors which are driving the growth of this market is the development of new easy to handle display devices, rising demand of on the move information, rising numbers of e-readers. The growth of e-paper display market is dependent on consumer acceptance of digital content. In addition, increasing benefits of technology in different sectors such as institutional, consumer and wearable electronics, retail and enterprise are impelling the demand of this market. However, low awareness, the high cost of manufacturing and piracy of e-paper is restraining the growth of the e-paper display market. Nonetheless, increasing investment in economically emerging countries and potential of the untapped market will boost the demand of the e-paper display market in coming years.
E-paper display market is bifurcated on the basis of product type, application, and region. Product type segment includes auxiliary displays, electronic shelf labels, e-readers and others. E-readers segment is dominating this market due to the huge proliferation of e-readers in major economies such as U.S, U.K, China, and others. Also, an e-book reader is portable, high capacity to store and others. Furthermore, e-readers can use the internet through Wi-Fi and the built-in software can provide a link to a digital open publication distribution system library or an e-book retailer, allowing the user to buy, borrow, and receive digital e-books. An electronic shelf label (ESL) system is used by retailers for displaying product pricing on shelves. E-paper is currently trending in the ESL market as it provides crisp display and supports full graphics imaging. Application wise, the e-display paper market is bifurcated into automotive & transportation, consumer & wearable electronics, institutional, media & entertainment, retail & enterprise etc.
Geographically, the e-display market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America is the biggest market for e-paper display market due to the high penetration of smartphones and tablets by the consumers. Factors such as ongoing technological advancements, positive environmental impact due to very less energy consumption as compared to other display technologies, and increase in application areas is gaining momentum to the e-paper display market in North America. In Europe, e-paper display market will be expected potential growth due to a partnership between major players. Owing to the vast proliferation of e-readers among major economies such as the UK, Germany along with the growing adoption of web-based, e-books, and digital reading habits are driving the growth of e-paper display market in Europe. www.electronicshelflabelcloud.com www.electronicshelflabel.cloud , www.electronicshelflabel.company , www.electronicshelflabel.xyz , www.catalog.directory , www.smrtcrt.com , www.valuo.io , www.fullstackadvertising.com
In Asia Pacific, e-paper display market is expected highest CAGR due to increase usage of e-paper in different sectors such as automotive & transportation, consumer & wearable electronics, institutional, media & entertainment, retail & enterprise and others. Latin America and Middle East & Africa are expected considerable growth over the forecast period. Rising rate of internet usage is leading the popularity of paperless operation in offices and institutes. In addition, the introduction of unique file formats wished-for reading and sharing documents on internet further promotes the concept of paperless office will impel the demand of e-paper display market.
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SmrtCrt
provides a universal open platform tagging system for enterprises & individuals to make them able to mark anything physical or virtual.
Helping Retailers and Consumers
SmrtCrt’s digital scanning technology APP and dashboard has been created to provide consumers with a powerful tool to capture product information on any product in any environment from a single scan.
This consumer empowerment provides consumers with information they need and want on the spot and allows them to choose their level of engagement with retailers, brands and manufacturers.
Engagement
In-store adoption: ability to target in-store visitors with personalized offers on products/accessories and mobile plans
(increase in 15–20% instore revenues)
Universal
SmrtCrt is a universal open platform tagging & mobile engagement system for retailers & individuals marking anything physical or virtual to make it readable and processable for all mobile devices.
Rewards
Use Customer Insights to inspire true loyalty. Mobile plays an increasingly important role driving, enabling and shaping Loyalty; and it is a channel we embrace as the “remote control of consumers’ lives”.
Instant Interaction
SmrtCrt Communications Platform leverages world-class technology and expert business services to help organizations deliver timely, relevant and engaging communications.
Mobile
We provide a handy and universal tool for users to make easier what they are already doing with their mobile device on a daily basis.
Electronic Shelf Labels (ESL)
SmrtCrt Retail Commerce Reconfiguration
Customers are gradually becoming accustomed to the simpler shopping process offered by e-commerce pure players. In physical stores, they can easily lose their way while hunting for the right ink cartridge, particular light bulb or suitable charging cable. In the end, they leave the store frustrated and, in the worst case, without buying anything at all. Instead of wasting time searching the shelves, customers can find the product they want easily and quickly with SmrtCrt.
SmrtCrt stores become a smart asset, with smart labels, smart display shelves, smart security cameras, and a universal connectivity infrastructure (Wi-Fi, IoT, NFC, BLE/Beacon) to help collect and exchange a multitude of data. Everything is tracked and measured. Concretely, it is possible to know which products are (or are not) on the shelves at all times, as well as which customers are in the stores and what they are looking for. This fundamental information changes everything in terms of the store’s operating and sales efficiency. Some management tasks can be automated or remotely managed. Specifically, stores will be able to considerably reduce shortages, waste, staff costs, and over-stocks related to insufficiently responsive and refined pricing policies. Sales per ft will be optimized by continuous analysis and optimization of mix and merchandising.
On the Internet, getting a consumer to click on a product description page brings in money. The equivalent in the real world — bringing a shopper to a product in an aisle — brings the retailer nothing. Where is the value? Even though the conversion rate of store visits to purchases is much higher than with e-commerce. This will change rapidly. Advertising expenses for brands will continue to move closer to the actual purchase, which is to say to the store, for greater accuracy and efficiency. Retailers who digitize their display shelves, make each shelf an advertising medium. Retailers are a largescale precision broadcaster. And that’s not all, by improving connectivity with the shopper at the point of sale, retailers become a significant source of Consumer Data: the next great digital battle will play out in stores.
Convergence: the driver of the next wave of sector concentration. Tomorrow’s commerce will be omnichannel. Pure players will decline or disappear, unless they can also become omnichannel retailers and develop their own networks of points of sale, which many have begun to do, starting with Amazon and Alibaba.
Labels are no longer used to merely display a price; with SmrtCrt and Hanshow they have a much broader function in terms of providing customers with information. They are ‘micro web pages’ that display information as vital as consumer ratings, in-store and online availability, additional variants, and promotional information.
SmrtCrt offers a click and collect solution and home delivery from nearby stores, this is rapidly developing and this trend will accelerate as this is the ultimate in omnichannel service. Product location makes it possible to increase average checkout value while significantly reducing preparation time.
With SmrtCrt retailers have access to unlimited personalized customer engagement platforms: Shoppers are informed that they can connect to free wifi on entering the store. If the shopper has already logged on during a previous visit to any of the chain’s stores, they are instantly connected and receive a welcome message. Otherwise, they can log on by entering their cell phone number and gain access to deals and a whole range of e-services available instore: Geolocated product search, to easily locate products. Instant, enhanced content via an NFC tap or by scanning the QR-code of digital labels (video, consumer reviews, product comparison, nutritional information, etc.) Bookmarking of favorite products. Text messages informing them when they can checkout without waiting in line. Personalized coupons.
SmrtCrt Retargeting: All e-services also provide a way to collect information and learn more about the products shoppers look for and their fields of interest. As the shopper can identify themselves, they are subsequently easier to contact following their visit to the store. Store visits that don’t lead to a sale will now have a second chance.
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