Smart Shelves Market Booming as Grocers Embrace Automation
Electronic shelf labels (ESLs) offer countless benefits for retailers, from providing accurate and up-to-date information to shoppers to giving retailers valuable data on shopper foot traffic and supporting automated inventory management. Today, more retailers are finding value in this cutting-edge technology, as advances in power efficiency and high-speed data networks make the technology practical and in-reach. In 2020, the smart shelves market had an estimated value of $1.8 billion, but this is projected to rise to $7.1 billion by 2026.
ESLs are much more than just technology for displaying prices. They play a much more significant role in giving information to staff and customers, functioning as are “micro web pages” that display essential omnichannel data. These elements enhance the in-store user experience by saving time and helping both staff and shoppers make informed decisions.
Initially, concerns over how to power the devices were a hurdle for mass adoption of the technology. Today’s ESL technology is completely wireless, using ultra-low battery power. Advances in wireless power technology also promise a future where retailers can power these devices with an infrared transmitter.
This combination of capability and low barrier to entry means that grocers of all sizes can leverage ESL technology to improve operations and optimize shopper experience. Shoppers can view information such as detailed specs, pricing, and inventory levels. Those looking for a deeper dive into the product can access reviews and answers to product questions by scanning a QR code or using a smartphone’s NFC reader. ESLs also enables easier promotion management and reduced labor cost in changing paper labels to support price changes and specials.
STCR partners with grocers of all sizes to incorporate smart technologies that deliver a better shopping experience and more profits. Learn more about STCR's ESL solutions and how we can help position your store for the future.