With the increasing competition in the retail sector, many retailers are adopting automated solutions to gain an edge over their rivals. Moreover, the various complexities associated with managing large retail stores and warehouses are augmenting the requirement for smart automated solutions in the retail sector. The electronic shelf label (ESL) system is one such automated system which provides flexibility and accuracy in store operations. Additionally, these systems enable centralized control which leads to time saving and reliability and also makes the installation of updates easy and hassle-free.
Furthermore, ESL systems also enable better and effective warehouse and inventory management, omnichannel efficiency, and physical store management efficiency, which, in turn, makes the work of retailers easy. Besides, the adoption of these automated systems allows retailers to save time, costs, and efforts in managing the retail store. In addition, these systems improve the delivery and service scheduling processes and enable consistent process execution and the display of product information, thereby improving the customer experience.
Get More Insights: Electronic Shelf Label Market Revenue Estimation and Growth Forecast Report
Due to the above-mentioned factors, the revenue of the global electronic shelf label (ESL) market is set to increase massively in the years to come. Supermarkets, hypermarkets, specialty stores, and non-food retail shops are the major end users of these systems. The existence of numerous hypermarkets in Europe and North America has fueled the demand for these solutions in these regions. This is because these solutions were extensively adopted by hypermarkets for increasing their productivity and efficiency.
Moreover, these solutions assist hypermarkets in reducing their operating expenditure and customer response times, which, in turn, helps them provide better customer experience. Segmented E-paper, liquid crystal display (LCD), and full-graphic E-paper are the major types of electronic shelf labels used across the world. Out of these, the demand for full-graphic E-paper is currently the highest and it is predicted to soar even more in the coming years. This will be because of the fact that full-graphic E-paper ESLs can project high energy efficiency and graphical objects. Geographically, the demand for ESL solutions was found to be the highest in North America in 2020.
