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Utilizing Digital Solutions at the Point of Purchase to Improve Realtime Product Pricing and Engagement

In recent years, social distancing has become the norm with younger generations because of technological advancements and other social factors. It was accelerated due to COVID-19, and yet the need to connect to people and brands is growing. As our daily lives return to a new normal, the stakes are high for retailers to drive consumer engagement and increase touch-points to access important product information quickly. 

 

This has become a challenge for the retailers since they were looking to find a way to satisfy the need for knowledge of their customers. Staffing and inventory management issues within retail have also started to cause new issues for updating product pricing and point of sale marketing. 

 

To combat the challenges and changing landscape, many retailers are utilizing digital solutions to serve up all the necessary and valuable information for their customers to meet their needs. One of those solutions is reactive digital pricing label displays installed at the point of purchase. 

 

What is a Reactive Digital Pricing Label and How Does it Improve Retailers Efficiencies?

 

Grocery Store Digital Pricing Tool

 

Reactive Digital Pricing Labels are used to automate the store pricing process and shift labor, and eliminate the need for printed labels. The digital solution improves retailer’s pricing and inventory management efficiencies by updating every time the price is changed under the control of the central inventory management system. In addition, pricing and marketing messages can be manually updated remotely or via a mobile device. 

 

It’s a great digital alternative for retailers who want to get updated pricing and engaging content to their customers quickly. Reactive Digital Pricing Label provides an innovative way of managing and displaying point of purchase content across small strip displays without the need of printing new labels every time a price changes or a product changes locations. The ability to create reactive content and price changes on the fly help retailers increase sales, improve inventory management, and lower overhead. 

How Does Shelf-Edge Reactive Displays Work?

 

Acquire’s Shelf-Edge system was created and tailored to the playout and inventory management of point-of-purchase content on small strip displays. The Shelf-Edge content management system comes with built-in design tools to create and edit pricing labels and marketing messages.

 

Once a retailer has created its message, the CMS can playout and schedule content remotely to any shelf or section within the store. It can do this without needing to print off the new price tags and it can easily publicize any promotional content across multiple displays. Since we are talking about promotional content, the CMS can synchronize moving content across multiple displays for a unique customer experience. 

 

Using QR Codes at the Point of Purchase

 

A great advantage of this tool is its mobile capabilities. Using the custom QR code creator, the system provides the ability for customers to scan a QR code at the point of purchase to view additional product information or ship-to-home options online. Many retailers like Ralph Lauren, Unilever, PepsiCo, H&M, and Puma are using QR codes to digitalize products to increase the ability to sell additional sizes or out-of-stock products online. The use of QR codes has increased during the pandemic and is set to be at the forefront of retail and consumer engagement agendas in 2021.

 

Coupon QR code on smart phone

 

Benefits of Reactive Digital Pricing Labels

 

Digital Pricing Labels have a lot of benefits for both retailers and their customers. Some of the benefits include:

 

Reduce Employment CostsMaybe one of the greatest benefits for retailers is the ability to reduce employment costs. Now you can update and change content and pricing remotely and without difficulty. The best thing about it? You don’t have to print and install the updated price tags.

 

Improved Promotional ExposureIf you wonder how a display can do this, the answer is simple: QR codes. This tool can implement deals and discounts by using unique QR codes, an on/off control, and full tracking of the customer with a built-in facial recognition that tracks gender, age, as well as ethnicity. 

 

Tracking the Behavior of the CustomerWith the addition of optional sensors and cameras, Shelf-Edge provides additional analytics to track customer behavior. It can do a behavior analysis, which takes into account audience metrics including location, dwell time, reactions, or age. This will help you in identifying your ideal customer via camera for targeted advertising. How it works is that the data from each location is stored in the system that allows customer’s stock movement, as well as their responses. The benefit of this particular feature is that it allows the combining of the full-motion video elements with computer-generated animations by using live data. You can collect usage and product data, as well as build trigger rules to allow live content changes, no matter if they are connected or not. 

 

Increase Content Engagement by Using Live Data to Track Content – Now you can easily add mobile hand-off end-points because you will be able to drive online sales and display product information. This is thanks to the mobile-friendly feature, as well as the full-motion video elements that can be combined with computer-gathered animations. 

 

Some recommended hardware include the Endcap Header Display or Shelf-edge Strip Display

 

No matter what you decide to choose, these digital solutions are the beginning and the end of your customer’s journey. They will improve your advertising capabilities, product engagement, and you will be able to lift your sales and improve your employee’s management. 

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