Pervasiveness of Retail Sector to Augment Demand for Electronic Shelf Label
Being the final step in the distribution process, retailing has witnessed significant traction across the globe since the past decade. Retail industry has largely influenced the growth of various retail outlets including but not limited to hypermarkets, supermarkets, convenience stores and specialty stores, in turn pushing the demand for retail equipment and devices such as electronic shelf label. According to International Labor Organization (ILO), the trillion dollar retail industry is expected to remain pervasive maintaining strong growth in the coming years. This factor is expected to present potential growth avenues for manufacturers of electronic shelf label throughout the period of assessment, in turn contributing to the overall growth of the electronic shelf label market.
Sale of Electronic Shelf Label in Hypermarkets and Supermarkets to Increase at a Significant Rate
Demand for electronic shelf label in hypermarkets and supermarkets is expected to rise at a significant pace on the back of higher inclination of these retail outlets toward automation products and equipment. Electronic shelf label offer higher convenience quotient for hypermarkets and supermarkets across the entire merchandise line. Meteoric growth of the retail sector worldwide has resulted in a momentous increase in the number of hypermarkets and supermarkets since the last decade. The sales of electronic shelf label in hypermarkets and supermarkets since the past few years have witnessed a significant boost, and the trend is likely to continue in the years to follow. Against this backdrop, hypermarkets and supermarkets are likely to remain a lucrative business opportunity for key stakeholders during the period of forecast.
Stellar Growth in Demand on the Back of Improved Price Management
Electronic shelf label, a novel technology in the retail industry, offers efficient interoperability as compared to paper labels during dynamic price change. While promotions play a vital role in enhancing sales and brand value, companies need to carry out changes in the prices of commodities and goods at a dynamic pace. With electronic shelf label it becomes convenient to carry out price up gradations at a rapid pace providing seamless control on pricing management. Moreover, electronic shelf label reduces pricing errors in stores. With increasing competition in the retail sector, it becomes imperative to carry out pricing variations to complement sales of commodities. This has resulted in increasing demand for convenient, less complicated and cost efficient solutions such as electronic shelf label in the merchandise space, consequently fuelling demand for electronic shelf label.
Increased customer and employee satisfaction to Complement Sales
Sales of electronic shelf labels are largely influenced with enhanced customer satisfaction during store shopping. Errorless pricing coupled with optimization in store workflow has resulted in increased employee and customer satisfaction which has pushed retail stores to adopt these novel devices in a bid to increase customer footfall every day. Moreover, with electronic shelf label and other display solutions, promotional offers are easily communicated to customers, which is influencing their purchasing decision. This aspect has fuelled the demand for electronic shelf label on the back of efficient customer service they deliver, making them a vital sales funnel for retailers worldwide.
High Accuracy and Reduction in Labor Cost – Key Growth Determinants Influencing Installations of Electronic Shelf Label
Electronic shelf label offers advantages in terms of high accuracy and reduction in additional labor costs as compared to conventional label changing. Adoption of electronic shelf label has significantly reduced the risk of human error in turn ensuring potential pricing compliances. Moreover, use of electronic shelf label has eliminated the dent in customer confidence, consequently resulting in increasing sales. This factor has resulted in an increase in the number of electronic shelf label installments in retail stores, in turn supporting the growth of their market worldwide.
About the Report
“Electronic Shelf Label Market Forecast, Trend Analysis and Competition Tracking – Global Review 2018-2026” is an extensive compilation of several data and insights pertaining to every market segment. The report covers assessment on various product types in the electronic shelf label space used worldwide. It also highlights lucrative regional markets along with a detailed country level analysis that the key stakeholders can use to expand their global footprint. The report includes historical data analysis along with current market scenario and future market projections for a period of eight years from 2018 till 2026. The report also highlights various trends impacting the market’s growth, along with key drivers and restraints. It also includes opportunity assessment that can be leveraged by stakeholders to identify key revenue pocket.
The sales of electronic shelf label across several application areas are represented in US$ Mn along with projection rates in terms of CAGR during the said timeline. The electronic shelf label market report also includes key metrics such as market attractiveness index, year-on-year growth, absolute dollar opportunity, value chain analysis, and supply chain assessment. The report also covers assessment on key participants operating in the market, supporting the reader in formulating future moves to gain competitive advantage in the years to follow. Market Segmentation
The research report on electronic shelf label market covers a detailed segmentation covering every facet of the electronic shelf label market providing a holistic view for the reader. The report on electronic shelf label market includes analysis on every segments of the market that have an impact on the overall growth. The electronic shelf label market is segmented on the basis of product type, by technology, by application and region. Analysis on various products such as LCDs, E-Ink and others has been complied in the report. The application areas of electronic shelf label such as supermarkets and hypermarkets, convenience stores, department stores, specialty stores and pharmacies have also been highlighted. Assessment on various technologies such as ZigBee, BLE, Wi-Fi and others is included in the study. On the basis of region, the market is categorized into North America, Europe, China, Japan and Rest of the World (ROW).
The research report on electronic shelf label market provides a thorough understanding on competitive landscape. This section covers analysis on various companies participating in the electronic shelf label market along with several aspects such as mergers and acquisitions, product portfolio analysis, company overviews, marketing strategies, key financials such as market shares and revenues. The report also delivers a complete SWOT analysis along with recent developments and innovations and information on research and development activities carried out by major players in the in the electronic shelf label space. For instance, Pricer AB developed and launched a large number of electronic shelf label in stores in France in 2017 owing to its efficient HDT and HD150 label sizes. Likewise, Altierre Corporation launched “One Price Auto Tags as-a-service” for automotive dealers in 2018. Key companies profiled in the electronic shelf label report include Pricer AB, Altierre Corporation, SES-imagotag, DisplayData Ltd., Solum Co. Ltd., Teraoka Seiko Co. Ltd., and Hanshow Technology Co. Ltd., to name a few.
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