Emergence of dynamic pricing in electronic shelf label market in Europe is expected to drive market growth.
Arizton’s recent market research report on the electronic shelf label market in Europe provides comprehensive industry analysis, trends forecasts, and competitive analysis. The research study segments the market by display (LCD(TN LCD, TFT), EPD, and OLED), technology (vendor facing (RF and IR) and customer facing (BLE, NFC, and others), end-users (supermarkets and hypermarkets, departmental stores, convenience stores, drugstores, and others), and geography (Germany, France, UK, Italy, Spain, Austria, Belgium, Norway, Denmark, Sweden, Finland, the Netherlands, and Russia).
The electronic shelf label market in Europe is expected to grow at an impressive CAGR of around 25% during 2018–2024.
Emergence and Prominence of Omni-channel and Retail Reality
With the increase in the internet and smartphone penetration, the purchasing behavior of consumers has changed considerably. An interesting trend witnessed in the electronic shelf label market in Europe is the increase in the “click and collect” model, where customers purchase the product online and collect it from the store. Omni-channels provide an integrated platform of online and in-stores to provide a seamless experience to customers. Hence, ESL can be one of the technologies that can provide the omni-channel solution by displaying the detailed product information and associated real-time promotions in the convenience of in-store shelf edges. The prevalence of omni-channels is expected to develop opportunities for brick and mortar stores to move into e-commerce space, thereby effectively providing the multi-channel retail environment to consumers.
Emergence of Dynamic Pricing in electronic shelf label market in Europe
With the emergence of the e-commerce industry, the concept of pricing has become one of the main differentiating factors, and customers have the choice to determine when, where, and at what price to purchase a product. With increased transparency in pricing, the price war is intensifying and pricing is revised several times during the day. A prime example is Amazon, which changes its pricing on an average every 10 minutes with the usage of algorithmic dynamic pricing. Further, with the advent of online retail and democratization of information, the information asymmetry has been totally removed and the buying power has shifted from retailers to consumers. Hence, the adoption of the omni-channel retail strategy has led retailers to provide a holistic experience and rival online retails by the introduction of dynamic pricing in-store through ESL.
Imminent Retail Automation
The end-to-end retail automation is the trend that is expected to change the whole nature of the customer’s interactivity in retail stores. With the introduction of electronic shelf label market in Europe, the automation drive will change the way the customer interacts, thereby both increasing customer experience and retail performance. The introduction of RFID technology, which uses the radio frequency to communicate with sensors, has helped to uniquely identify the product and track it through the entire supply chain without hassle. The real-time inventory management is possible through RFID-based integrated solutions. The products movement in and out of warehouses, distribution centers, and store premises can be tracked without any manual intervention by the use of these sensors at the inventory and customer touchpoints. This helps to reduce the shrinkages.
SES-imagotag, Pricer, Displaydata Ltd, Altierre Corp, and DIGI are some of the key vendors of the electronic shelf label market in Europe.
The complete overview of the latest market research report on the electronic shelf label market in Europe by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges and provides market sizing and forecast for major geographical regions and key countries.
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