Electronic shelf label

One major technological roadblock that retailers face when trying to match their online and offline prices is the lack of a system that can accurately track inventory levels and can implement price changes between physical and e-commerce channels in real-time.

Continued dependence on antiquated technologies like paper-based shelf price tags has proven to be a contributing factor, if not the fundamental cause, of the problem. Not only are paper shelf labels bad for the environment, but altering them all at once to match internet prices is also time-consuming and costly.

The evolution in retail pricing technology over the past decades has fortunately solved these problems, thanks to the introduction of Electronic Shelf Labels.

ESL firms like SOLUM help retailers of all sizes achieve smooth price synchronization by providing them with a sophisticated, centralized system that automatically adjusts the prices of products in physical stores and on the company’s e-commerce platforms.

SOLUM also has a scheduling update capability, which allows ESL updates to be scheduled at a specific date and time. The tags will update at the predetermined time once the pricing data is received by the ESL, even if it is unplugged from the gateway.

These ESL features enable very effective online and offline channel convergence as well as real-time dynamic pricing, both of which are essential for providing customers with a unified retail experience.

Alibaba and SOLUM ESL – Taking Retail Experience to a Higher Level

In 2019, Alibaba has awarded SOLUM ESL with a contract for the ongoing supply of about 6 million electronic shelf labels for their initiative called “Alibaba Offline Ecosystem Program.” This innovative project will support major retailers in China, such as Alibaba’s store brand Hema, with cloud-driven ESL tags for operation and access to e-commerce services which would enable ultra-fast delivery services to customers within a 3km radius of the store.

Alibaba has obtained the dependable solution it requires to seamlessly blend its online and offline prices by implementing SOLUM’s electronic shelf labels.

Consumers may get a firsthand peek at what the future of retail looks like at the company’s internet-powered grocery chain, Hema Xiansheng. Hema, which is usually found in residential zones across China’s main cities, offers a shopping app through which users may place and pay for orders using Alipay or Taobao. Customers within a 3-kilometer radius of the store can anticipate their groceries to arrive in 30 minutes or less.

How do they guarantee a 3-kilometer, 30-minute delivery time? Employees at Hema make it possible with the support of ESLs. Grocery employees can quickly locate products around the shop using an ESL scanner, making it much easier and efficient to fulfill internet purchases.

Customers can also use the shopping app to scan the barcodes displayed in the ESLs to check the product’s pricing online, customer reviews, the date it was delivered in the store, where it originated from, and delivery alternatives if they decide not to buy the item in the store.

Alibaba not only achieved genuine online and offline pricing convergence by incorporating SOLUM ESL technologies into their current retail distribution capabilities, but it also established a new benchmark for what a 21st-century retail experience should look and feel like.

Contact SOLUM today if you think your retail or e-commerce business needs a powerful ESL for a synchronized price setting and consistent customer experience.

By JenniferKIM

Jenniferkim is a General Blogger & writer who has been extensively writing in the technology field for a few years. He has written several articles which have provided exciting and knowledgeable information on Finance, Business, Tech, Travel, Sports in Italy.

Leave a Reply

Your email address will not be published. Required fields are marked *