Lowe’s selected SOLUM as its ESL solution provider in 2020, primarily because of the newly introduced Newton label, which provides the fastest update speed in the market today.
All ESLs in this roll-out are all custom-designed with Lowe’s logo prominently displayed in the lower bezel. The project is expected to be completed by the 3rd quarter of 2020.
Ensuring efficient store operations has been extremely vital to Lowe’s success as a retailer. In order to streamline their operations and improve their product pricing and promotional activities, Lowe’s decided to shift from using paper shelf labels to electronic shelf labels.
The ESL solution they looked for should allow Lowe’s to ensure accurate price changing during holidays which often overlap, retain their sensitive data such as product information and sales analytics in-house, and execute successful in-store promotions.
Newton’s update speed meant that Lowe’s could change the product prices across their stores in real-time, which enabled them to develop a more sophisticated dynamic pricing strategy that helps them stay competitive.
Aside from its speed, Newton’s custom bezel design has also helped Lowe’s achieve a consistent brand identity inside their stores. The data the ESL gathers is also helping Lowe’s to gain insights about their customer behavior, allowing them to create more effective and timely promotion strategies.