Efficient Pricing Solutions: Embracing Electronic Shelf Labels

EasyChair Preprint 11734

Abstract

In today’s fast-paced retail landscape, the need for adaptable and agile pricing strategies has become imperative for retailers to remain competitive. Electronic Shelf Labels (ESLs) have emerged as a revolutionary solution, offering dynamic pricing capabilities that enable swift adjustments in response to market fluctuations, consumer demand, and promotional activities. This paper explores the implementation and benefits of ESLs as a key component of efficient pricing solutions in retail environments. The introduction of ESL has transformed traditional pricing methodologies by replacing static paper labels with dynamic digital displays. These labels not only streamline pricing operations but also empower retailers to optimize their pricing strategies in real time. By integrating ESLs with backend systems and data analytics, retailers can swiftly modify prices, implement personalized promotions, and efficiently manage inventory levels. This paper investigates the multifaceted advantages ESLs offer, including enhanced pricing accuracy, reduced labor costs, minimized pricing errors, and improved customer experiences. Additionally, the potential challenges and considerations associated with ESL implementation, such as initial investment costs and technological infrastructure, are examined to provide a comprehensive understanding of the adoption process.

Keyphrases: Electronic Shelf Labels (ESLs), Pricing Efficiency, Retail operations

@booklet{EasyChair:11734,
  author    = {Bayram Ali and Smith Milson},
  title     = {Efficient Pricing Solutions: Embracing Electronic Shelf Labels},
  howpublished = {EasyChair Preprint 11734},
  year      = {EasyChair, 2024}}