Electronic price tags

Electronic price tags for Retail Outlets - centrally manage basic price information

May brings a big change for retail. With the EU's new law on basic price information, retailers will in the future be obliged to indicate the basic price in addition to the item price. This should help consumers to be able to compare products more accurately and transparently. At first glance, grocers seem to be affected by the law, but pharmacies will also have to mark the basic price in the future. The basis for this is  5 PAngV, which also includes medicines and cosmetics in addition to food.

It is important that the unit of measure for the basic price is always 1 kilogram, 1 liter, 1 square meter, or 1 meter of the goods. The exception, where in the past the basic price for 100 g or 100 ml could be given as long as the content did not exceed 250 ml or 250 g, is no longer valid with the new law. The basic price may only be omitted if it is identical to the total price.

This new law poses an enormous amount of work for pharmacies, as all price tags in all branches have to be replaced. This is not only time-consuming but also produces a lot of paper waste.

Electronic price tags as a solution for Retail Outlets

 The new law is a good opportunity to switch to digital price labeling because with electronic shelf labels the labeling of articles is centralized and optimized. In the future, price tags will no longer have to be exchanged manually in order to adjust prices, weight, or the basic price. Instead, everyone is managed from the computer, even across multiple branches, which saves a lot of time. Thanks to the connection to existing merchandise management systems, the error rate is also reduced, since product information is taken directly from the system.

Same products often require additional information. Thanks to the NFC technology of the Electronic Shelf Labels, customers can quickly and easily call up details, ingredients, or exact product pages with their own smartphone if no staff is available for advice or the customers prefer to do their own research. Customers can also be forwarded to certain pages or campaigns via QR codes. If the retail outlet has its own online shop, this can of course also be linked.

The great advantage of electronic signage lies not only in the optimized price labeling and time savings but also in the sustainability of the solution. The electronic labels have a battery life of up to 5/10 years and reduce paper consumption enormously. Customers can still read them, however, since electronic price tags are based on e-ink technology, which is also used in e-readers. This means that the information can still be easily read even in poorer lighting conditions or viewing angles.

THE ADVANTAGES OF ESL FOR RETAIL OUTLETS AT A GLANCE:

· Improved price management through central administration

· More time for individual customer advice

· Digital shopping experience for customers thanks to NFC technology or QR codes

· Sustainable signage solution with less paper waste

· Optical upgrading of the sales area

· Rapid implementation of new laws on basic pricing or product labeling

· Future-oriented solution

· Basis for digital processes such as mobile payment at the shelf (Scan&Go)

Electronic price tags are already finding their way into the food and retail trades. Big brands like Lidl, Rossmann, and Saturn are already using digital labels and are constantly expanding their use. Other areas of retail, including pharmacies, can also benefit in many ways from this digital transformation in the long term. Thanks to central control, future changes in the law that affect the display of articles and price information are no longer a problem.

Feel free to contact us for a personal consultation on the implementation of an ESL solution in your pharmacy and find out about the current, discounted purchasing conditions. Joseph Cachia and Son Ltd tel 25522883, 79429716 info@jcs.com.mt