SmartPrice Tags: Revolutionizing Retail with Electronic Shelf Labels

EasyChair Preprint no. 11729

Abstract

The retail landscape has been undergoing a transformation propelled by technological advancements. Electronic Shelf Labels (ESLs) have emerged as a game-changer, revolutionizing traditional pricing strategies and enhancing the overall shopping experience. SmartPrice Tags, a subset of ESLs, represent a pivotal shift from static paper labels to dynamic, digitally controlled displays. This paper explores the profound impact of SmartPrice Tags on retail operations, customer engagement, and the bottom line. It delves into the technological architecture behind ESLs, highlighting their integration with inventory management systems, pricing algorithms, and real-time updates. Moreover, it examines the multifaceted benefits that SmartPrice Tags offer to retailers, including increased operational efficiency, reduced labor costs, and enhanced pricing agility. Furthermore, this abstract scrutinizes the influence of SmartPrice Tags on consumer behavior, elucidating how dynamic pricing and personalized offers drive customer satisfaction and loyalty. It investigates the role of data analytics in optimizing pricing strategies, tailoring promotions, and fostering a more personalized shopping journey. The paper also addresses the challenges and considerations in adopting SmartPrice Tags, including initial investment costs, infrastructure requirements, and cybersecurity concerns. It outlines strategies to overcome these challenges and maximize the ROI of implementing SmartPrice Tags in diverse retail environments.

Keyphrases: dynamic pricing, Electronic Shelf Labels (ESLs), Retail Technology

@Booklet{EasyChair:11729,
  author = {Lee Kasowaki and Revan Thomas},
  title = {SmartPrice Tags: Revolutionizing Retail with Electronic Shelf Labels},
  howpublished = {EasyChair Preprint no. 11729},

  year = {EasyChair, 2024}}