Electronic Shelf Labels Market

Walmart Adopts Electronic Shelf Labels

The Electronic Shelf Labels Market in terms of revenue was estimated to be worth $1.5 billion in 2023 and is poised to reach $2.8 billion by 2028, growing at a CAGR of 13.8% from 2023 to 2028. Growing trend of retail automation, advent of 5G, and benefits offered by electronic shelf labels (ESLs) are the major factors driving the market growth for ESLs globally.

This move aims to enhance productivity, reduce the need for manual price changes, and improve customer experiences. The ESLs will allow employees to update prices using a mobile app, significantly reducing the time spent on price management and enabling quicker restocking of shelves.

 

Lidl's Commitment to Sustainability

Lidl is also transitioning to ESLs across its UK stores by the end of 2024. This initiative is part of Lidl’s efforts to reduce paper and ink consumption, reflecting the company's commitment to sustainability. The switch is expected to save over 206 tonnes of carbon annually, demonstrating the environmental benefits of adopting electronic shelf labels?.

 

Enhanced Customer Experience

Electronic shelf labels are transforming the retail experience by providing dynamic pricing and detailed product information. These digital labels can display barcodes that customers can scan with their mobile devices to access information such as product sourcing and dietary suitability. This feature enhances the shopping experience by offering transparency and additional product details at the shelf edge?.
 

Growing Trend Among Retailers

The adoption of ESLs is becoming more common among major retailers. Whole Foods, Amazon Fresh, and Schnucks have already integrated this technology into their stores. The trend is also gaining traction in Europe, where ESLs are widely used to streamline operations and improve efficiency?.
 

Future Prospects

As higher wages make labor more expensive, the increased productivity enabled by ESLs is a significant advantage for retailers. Both large corporations and smaller chains can benefit from the labor savings and operational efficiencies provided by electronic shelf labels. This technology represents a significant shift in retail management, promising long-term benefits for both retailers and customers?.

 

Related Reports:

Electronic Shelf Labels Market by Product Type (Fully Graphic E-paper Displays, LCDs, Segmented E-paper Displays), Application (Retail, Industrial), Communications Technology, Display Size, Component and Region - Global Forecast to 2028

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