How Can Electronic Shelf Labels Help Create Smart Stores?

Electronic shelf labels (ESLs) may be small. But they can create a significant transformation for your business operations by turning it into a smart store.

The retail industry is no exception to the integration of smart technologies. As the days go by, more and more retailers are working towards becoming smart stores and incorporating smart store management. Some of the technologies that can be utilized to create a smart store include near-field communication (NFC) features, QR codes, geofencing, beacons, smart mirrors, smart fitting rooms, self-checkout systems, and electronic shelf labels.

ESLs are a good place to start when creating a smart store. Labels like the Newton LITE are small and simple, yet a powerful addition to retail operations. It is one step towards a functional smart store, whether it be a supermarket, convenience store, or other retail store.

Smart stores are physical retail stores that use advanced technologies to enhance the customers' shopping experience and make the business operation more efficient. These stores leverage cutting-edge innovations such as Internet of Things (IoT) devices, artificial intelligence (AI), data analytics, mobile apps, and electronic shelf labels like Newton LITE to provide real-time product information, personalized recommendations, and streamlined checkout processes.

Newton LITE is SOLUM’s line of compact ESLs. It was specifically designed for retail stores and businesses that are new to ESL technology. These digital labels are compact, durable, and powered by the same advanced Newton technology. This is why Newton LITE can help new or emerging smart stores, a good first step into smart store management.

Take a look at how Newton LITE can help create smart stores:

It has real-time and fast price updates

Newton LITE is equipped with Newton technology that allows for fast update speeds. It’s 10 times faster than any other electronic shelf label in the market. This will ensure that every product on the shelves has accurate prices and labels. Daily or seasonal promotions won’t be a problem as well with real-time updates.

This is particularly beneficial as some states or countries have specific laws about product pricing. The Michigan Price Scanner Law, for example, requires that most items on store shelves display a price clearly and convey the correct cost to a consumer. Sales and promos might cause some conflicts with pricing tags, but Newton LITE can make updating easier and faster.

It has NFC capability

Newton LITE boasts NFC (near-field communication) capabilities. Near-field communication is also one of the smart technologies retail stores try to incorporate into their operations. With Newton's digital labels, however, retailers will already have NFC capabilities.

NFC allows shoppers to perform mobile payments at self-checkout machines. This is essential at the moment, as 65% of U.S. consumers prefer to use contactless payments post-vaccine. Forty-seven percent of them won’t even shop at a store that doesn’t offer a contactless way to pay. Newton LITE’s NFC capabilities will make this possible.

Apart from mobile payments, shoppers can also use near-field communication to download digital coupons or browse a retailer’s website. Overall, NFC will help make stores smarter, safer, more modern, and more efficient.

It has a Location-Based Service (LBS) enabled

Location-based service makes it easier for both staff and shoppers in a smart store. LBS means employees, especially the new ones, can find the right location of a product and which shelves need refilling. This feature also makes it possible for shoppers to use their phones when finding a specific product or aisle.

It is connected to the powerful Aims software

Newton LITE can also utilize the Aims software, which will enhance smart store management. The Advanced Information Management System (Aims) was developed by SOLUM for the ESL systems. This software, along with Newton LITE, will help retailers manage store-wide operations. This includes price updates, label assignment and management, inventory management, system report creation, and more.

It is one of the most sustainable ESL

Newton LITE is also a sustainable ESL option for a lot of stores and industries. These SOLUM ESL will replace all traditional paper tags in a store—reducing overall paper usage, energy costs, and manual labor.

Its batteries also last from 5 to 7 years, guaranteeing a long lifespan for retail stores. While the shockproof plastic case cover is an added protection that will make sure the digital labels are secured and safe from bumps, scratches, and more. This will allow stores to save money and energy while being kinder to the environment.

Utilizing sustainable smart technology will also attract more customers. Shoppers themselves want to support stores with sustainable efforts. Retailers can catch consumers’ attention and gain credibility as they advocate for proper sustainability.

Retail stores embracing digital technologies are now giving way to the emergence of smart stores. Smart store management will become more relevant and will reshape shopping experiences for consumers and retailers.

• It optimizes inventory management - Smart technologies can help optimize inventory management in every retail store. This will help the staff replenish low stocks, take note of missing items, and generate reports seamlessly. 
• It saves time and manual labor - Smart technologies also allow retailers to save time and reduce manual labor. This is because certain solutions like beacons, digital labels, and QR codes can make it easier for consumers to shop and for the staff to perform their tasks and daily operations.
• It minimizes costs - Having a smart store management system also minimizes costs for retailers. The technology that is being used will help stores save money in the long run. It will also help ensure that there are fewer errors or mistakes that can lead to significant losses.
• It helps provide a better shopping experience - Smart store technologies contribute to a better shopping experience as well. Shoppers can take advantage of electronic shelf labels while they browse for items. They can take advantage of QR codes to learn more about the store or certain prompts. Near-field communication can also make shopping straightforward and painless for them.
• It helps the business grow - And of course, smart store management will help the business grow. These technologies will help a retail store gain more profits, attract a bigger fan base, and improve its overall operations.

Embracing technology to create a smart store doesn’t have to be daunting. Solutions like the Newton LITE make it easier for retailers to apply smart retail technology.

Talk to SOLUM today to learn more about ESL solutions and other retail tech.