Digital price tags help optimize sales prices

Currency fluctuations and digital prices

In a world where exchange rates and purchase prices fluctuate constantly, most stores in the Swedish and Norwegian markets in particular face a challenge: to maintain the right contribution margin and ensure competitive prices on the shelves.

Fortunately, modern technology can step in and make this task much more manageable. With constant rate changes and changing purchase prices, digital price tags are an invaluable resource for retail.

Digital price signs provide the ability to automate price corrections and help maintain competitive selling prices, even in a world of frequent rate changes.

Exchange rates and purchase prices: a challenge for retail

Retail companies operating in the global market are all too familiar with the challenge of changing exchange rates and purchase prices in e.g. USD/EUR. This is especially true for companies that buy products from different countries.

Unpredictable changes in currencies and purchase prices can have a direct impact on costs and thus also on profits. If a retail business doesn’t respond quickly enough to these changes, they could end up losing revenue or even losing money altogether.

Digital price tags – the ideal tool for price adjustments

This is where digital price tags come into the picture as a game-changer for stores/chains in the retail industry – with the possibility of strengthening competitiveness.

The innovative signs make it possible to change the prices on the shelves instantly and automatically, without manual intervention. The ability to adapt to changing circumstances is invaluable in a world of constant exchange rate fluctuations and rising procurement prices.

You get the opportunity to highlight exactly the information you want – for example, offer prices, product descriptions, stock status, barcodes, logos and much more. The signs are available in many different sizes, from small shelf edge sizes to A4 sizes.

At the same time, you avoid costly, manual routines with printing, setting up and distributing price tags. Today’s price and product changes are automatically sent out to the signs, which receive the new information via a wireless antenna connected to your internet connection.

Advantages of digital price tags and automatic price correction

With digital price tags, one can safely navigate through the challenges of a market situation with changing purchase prices and continue to deliver value to customers.

As a store/chain, you get the opportunity to make automatic price corrections. At the same time, it also provides the opportunity to react proactively to the market and remain competitive.

More advantages as a store/chain:

• Time and resources saved: Manual price changes can be time-consuming and often require additional manpower. Digital price tags can save valuable time and resources that would otherwise be spent changing the prices of hundreds or even thousands of products.
• Precision and error-free: Automated systems are far more accurate than manual changes. Digital price tags ensure that prices are always correct, eliminating the risk of errors and avoiding potential customer confusion.
• Greater flexibility: Stores/chains can easily adapt to changing circumstances. If purchase prices rise, you can increase the prices on the shelves immediately. Conversely, if prices fall, you can react just as quickly by adjusting prices downwards.
• Improved customer confidence: By having updated prices on the shelves, you as a store send a clear signal to customers that you are aware of the market and aim for competitive prices. This can strengthen customer trust and loyalty.
• Better margin: By reacting quickly to changes in purchase prices, it is possible to maintain the desired margin and avoid loss of profit.

Do you want to know more?

Do you want to strengthen the business and be able to adjust the prices immediately to be able to maintain the right margin?

Contact us today and find out more about how digital price signs and our Breece System can possibly help your business in these changing times.

Kim Holst Hansen
Breece System Nonfood
kim.hansen@delfi.com
+45 28 19 65 63

Benjamin Bjerregaard
Breece System Food
benjamin.bjerregaard@delfi.com
+45 28 19 65 56