A reliable wireless networking solution can provide retailers with the features they require to use shelves with electronic labels efficiently. ESLs (electronic shelf labels) are being increasingly used in stores that sell retail products to show the prices of products. The wireless retail solution is typically affixed to the front edge of shelves, runs using batteries, and utilizes LCD displays to display the current price of goods to shoppers. Electronic Shelf Tags UsingSignificanceThese prices are kept up-to-date by a central console that runs label management software. A communication gateway relays every change to the network digital tags. In order to keep ESLs affordable the network has to provide the required performance and speed, while keeping its power demands low. Retailers are looking for ways to meet these demands through the usage of IoT-enabled radiofrequency (RF) devices. ESLs are utilized by a range of retailers, including the top international department stores, supermarkets and drug stores. Furthermore is that the ESL market is growing quickly: Global Market Insights projects that the sector's compound annual growth rate to be around 16 percent by 2024. Understanding the Value of Electronic Shelf Labels in Retail Although the implementation of an ESL system requires moderate initial expenditures, businesses looking to secure a competitive edge might find that implementing the system will make them more efficient and save money in the long run. The advantages a retailer may reap from the implementation of Digital Tags could include: Dynamic Centralized Pricing With centralized pricing prices, all price points are monitored and adjusted with software on a central workstation (which usually actively aligns with corporate or regional pricing variations). This is much more accurate, efficient and cost-effective than manually-made price adjustments. It also enables dynamic pricing, or pricing that changes according to various variables -- rising to match demand or account for low inventory levels; or dropping to be in line with competitors' prices or quickly sell items nearing the end of their shelf life. ESLs are able to track the flow of customers around stores using connectivity technology like Bluetooth(r) Low Energy beacons. The heat map could be generated with label management software by using the layout of the shop. It will highlight the most frequented areas, and record the products that are contained. Automated Inventory Management Management of inventory is a significant issue for retailers. Automating this process can generate a great deal of savings. ESLs can be integrated into software for sales management to allow retailers to better track low inventory levels and gain instant insight into when new stock will be readily available. The displays can be configured to show QR codes which will direct customers to the online shopping options. Of course, to realize the potential benefits, an ESL system has to be rolled out over the correct technological base. ESL cost efficiency is dependent on the low power consumption as we have already mentioned. ESL systems need to be flexible enough to can accommodate hundreds, if not thousands of connected nodes while still allowing communication between stores of all sizes. With the recent publicized hacks that took place at Target and Home Depot, retailers need to make security an important consideration when expanding their digital portfolio.
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