The Electronic shelf label is quite a fascinating development for stores and businesses. This technology does not only serve as a price tag system as it provides a wide range of functions that extends across various business departments.
The ESL (short form for Electronic Shelf Label) has been in existence for a while and its adoption has recently increased due to competition among stores and some other functional upgrades that enable businesses to manage inventories and maximize profit.
After bearing in mind the benefits of electronic shelf labels on business performance, it is necessary for managers to consider the various cost of electronic price tags, and also select the most reliable electronic shelf label manufacturer for the job. So in this article, we will reveal some electronic shelf labels price, how much businesses can save by using them, and reasons for the various electronic shelf edge label costs.
Why Electronic Price Tags Are Popular
One of the major reasons why ESL price tags have gained much popularity among businesses is their versatility. With constant development, the device has been able to perform various functions other than being just a mere price tag. Some of these include inventory management, digital signage, bookkeeping, advertising, customer service, as well as digital conference room signs.
Another reason for its popularity is flexible price control/update. With just a button push, the electronic shelf label will allow managers to make fast updates of prices and descriptions of goods across their various stores. This in turn gives managers enough time to focus on other productive aspects of their business.
The vast popularity is also a result of cost reduction. Electronic price tags cost much more in its early days. Back then, the ESL electronic shelf label only served as a price tag because it had a limited amount of character it could display. As time went by, prices began to drop till businesses could afford to make bulk purchases and also adopt them as a reasonable substitute for traditional labeling methods.
How Much Do Electronic Shelf Labels Cost
Averagely, electronic shelf labels cost about $6-$12. The difference between the e-tag price is a result of production costs from various electronic price tag manufacturers and ESL features. However, the electronic price labels will have nothing to display without proper connections to its other components.
The electronic shelf label system is made up of three major components which are; the communication device, base station, and display unit. The communication device could be a computer or mobile phone where prices are modified. The base station helps to provide wireless communication, while the display unit is the electronic tag placed in front of the shelf to exhibit product information.
The base station and ESL price label management software are things managers must create a budget for when getting supermarket electronic price tags. A proper base station should range from about $300-$400 and it can update about 1000-3000 price tags simultaneously.
The ESL management software is connected to the Enterprise Resource Planning (ERP) and Point of Sales (POS) system to commence flexible price updates and automation. This software are produced by various firms and their prices are strictly determined by them.
Reasons Why ESL Solutions Are Worth The Cost
Customers might think of electronic shelf tags as just another means to an end for store owners, but the management sees it in a whole different way. Below are some of the reasons the ESL price tag is worth the cost.
- Price Error Reduction
Most customers already have a budget whenever they visit the store and sometimes, due to the manual labeling technique, product shelf price may be different from the POS terminal price. This may lead to confusion among staff and customers.
ESL solutions in collaboration with the ERP system will ensure prices are synchronized at all times leaving less room for errors that could occur manually.
- Labor and Operational Cost Reduction
The ESL price tag is a form of capital investment that helps to reduce operating costs in the long run. Compared to the traditional labeling method which requires recurrent labor costs, electronic labels perform the task remotely without incurring a huge amount of labor cost, because it could update the price within several seconds.
E-ink display manufacturers have ensured they create a labeling system that will save businesses additional costs spent on power. The e-ink is a weatherproof system that continues to display prices under any power condition.
- Remote Inventory Management
The ESL displays help in the reduction of the management chain. It allows top managers to get quick simulated information from all of their various stores at once. This act will help them make quick decisions relating to inventory restocking, expiration, and tracking.
How Much Can You Save by Using Electronic Shelf Labels
ESL electronic shelf label is a technological advancement that comes with a lot of benefits. They come in several shapes, sizes, and capacities which differ from each other. The actual amount businesses can save from electronic label adoption is quite relative due to differences in store size, capacity, number of ESL devices needed, and many more.
Since there’s no definite figure of the amount that can be saved from electronic shelf tags adoption, The proper question should be “what are the costs that you can save by using electronic labels”. To answer this question, here are a few of the costs.
- Operational cost (money spent on papers, toners, and printers).
- Labor cost (wages and salaries paid for manual labeling).
- Power cost (power cost saved from e-ink display).
In the long run, any business that decides to adopt the electronic labeling system will be able to save a lot that could have been spent in the case of a manual labeling system.
If you’re unsure about which electronic label is the perfect fit for your business, worry not! The experts at Zhsunyco can help you out. They understand that each electronic label has its unique usage, and they can provide you with the most practical and cost-effective electronic shelf label solution for your project. Get in touch with them today to take the first step toward finding the perfect electronic labels for your business.
Why Zhsunyco® For Electronic Shelf Labels
Zhsunyco® is a professional electronic price tag supplier with years of experience in supplying different industries with high-quality ESL price tags. NFC electronic shelf label, Bluetooth, ESL WIFI, 2.4G ESL, and 433Mhz ESLs are available in Zhsunyco®. We have been able to extend our service to over 20,000 stores across 180 countries, giving them a chance to maximize profit while providing a quality customer experience.
We also specialize in manufacturing e-ink displays, LCD displays that can be customized into various shapes, sizes, and properties for your digital display need. Our products are highly durable and strong. To sum it all up, our merchandises are eco-friendly as they help to curb the amount of global paper waste and reduces the cost of your business.