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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.
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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.
Electronic shelf label are also referred to as electronic price tags that facilitate dynamic pricing with better customer communication. Electronic shelf label comprise display units and integrated software powered with either BLE, ZigBee, Wi-Fi and NFC technologies. These devices are typically used in hypermarkets and supermarkets, convenience stores, departmental stores and specialty stores among others. Electronic shelf label are highly flexible and reduce pricing mistakes and additional labor cost.
Additional Questions Answered
Apart from key dynamics, the research report on electronic shelf label market also answers various questions. For instance,
- Why Europe is likely to remain a lucrative regional market and which European countries are largely contributing to the demand for electronic shelf label in the region?
- Which technology is largely being used in electronic shelf label worldwide?
- Are LCDs better than E-Ink or can the latter overwhelm the former in terms of demand?
- How can online platforms impact the sales of electronic shelf label?
- What are the new advancements carried out by key stakeholders apropos to the technology used in electronic shelf label?
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).
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