Still a rare example in reality, but nonetheless a vivid example how to integrate a digital tool into a brick-and-mortar store: digital price tags.
Finnish company EllaFashion, owned by MariGroup, is one of the providers of the technology that was presented at its German-based distribution partner XPlace during the recent edition of Euroshop retail trade show. One of their first retail partners is Dutch denim brand G-Star who currently tests the digital price tag solution in their Amsterdam outlet at the Akerpoort mall.
The lightweight tags with a small display can be attached to all apparel or shoes and carry a chip connected to a special software; the tags run by battery with a lifespan of five to six years and are reusable.
According to EllaFashion this allows dynamic and individualized pricing: staff does not need to manually label prices any more, but instead through a centralized software prices on the tags can be marked, controlled and changed any time, for any occasion or daytime. A side effect for internationally operating brands and stores is to avoid currency losses since prices can easily be adopted if currency exchange rates vary.
At the same time with a digital tag attached to each piece in stock retailers are enabled to check the status of their inventory in real time. This shall also make stocktaking faster and much more precise.
Agata Sadowska, head of sales at EllaFashion: “Technologies which marry the physical stores with digital retail spaces are becoming a default for any successful business in the fashion world. (...) Because customers often don’t distinguish between channels, customers expect the same products, prices, services, offers and promotions whether they are online, instore or on their mobiles. It’s therefore vital that fashion retailers ensure their propositions and consumer experiences are consistent across all channels. The challenge here for many fashion retailers is how to ensure this consistency occurs in offline stores.”