We already know the main reasons why retailers make the decision to invest in electronic shelf labels: labour savings, improved efficiencies. But a growing number of convenience stores and forecourt retailers are looking to adopt our epaper solution as they recognise its potential beyond far and beyond the usual benefits.
It’s all in the name. Convenience stores are quite simply, convenient. Whether they’re located in the middle of town, or within a petrol station off a busy main road, their customers are all looking for the same things: a small store, conveniently located, offering a broad range of products with the benefit of extended opening hours. They’re not likely to do their weekly shopping there, but they all expect short queues, quick service and they will pay a premium for that convenience.
Most convenience stores or forecourt shops serve different types of customers during the trading week – predominantly business travellers during the week; and families at weekends. How can retailers target their promotions and optimise pricing for these customers more effectively to improve margins? Increasing prices of core products at particular times sounds like the answer, but putting this into practice is another matter. The reality of frequently updating paper labels is highly labour-intensive, and most retailers cannot justify the resources. Customers are expecting a fast throughput, they don’t want to see staff on the shopfloor updating paper labels.
Implementing electronic shelf labels enables stores to maintain pricing from a central point and without staff intervention, allowing retailers to implement more profitable pricing strategies quickly and easily. Time of day pricing promotions can be introduced without staff downtime, and can be particularly effective for stores operating 24 hours a day. Because the process is automated, prices can be updated almost instantly.
Whether it’s targeting wine promotions at the after-work crowd or introducing lunch meal deals aimed at the business traveller, electronic shelf labels empower retailers to change promotions and optimise pricing instantly, helping them to utilise their convenience to increase their margins and profitability. And all whilst displaying standard product and pricing information that you would expect from a standard paper label. It’s not surprising that the ROI for electronic shelf labels within these stores can be just a few months.
We’ll be attending the Insight NACS Future of International Convenience & Petroleum Retailing event in London in September if you’d like to meet with us and find out more. http://www.insightreport.co.uk/conferences/ficr2010/
Sarah Hool
Marketing Manager
Sarah.hool@zbdsolutions.com
