In a face-to-face conversation, your store employees can easily answer your customers’ questions. But what about when your customers are browsing by themselves? Does your store have the agility to respond to their inquiries?

That’s a tall order. But, thanks to today’s technology, digital signs make it a possibility.

Keep reading to find out how retailers just like you are using digital signs to gain agility in their stores so that they can better respond to customers and streamline store operations.

If the strategy is to execute one price across channels but match competitors' prices when it counts, then those policies need to make it to stores, particularly in response to consumers standing at shelves with smartphones out and on.

Nikki Baird and Paula Rosenblum Benchmark Report 2015

Gain a competitive (shelf) edge

We are beginning to see more digital signs in the retail environment. True, retailers who are rolling out or piloting digital signs today are stepping into uncharted territory. But the real advantage may come quickly as these retailers translate what they’re learning today to what they’ll be doing tomorrow.

One area rich for exploration and learning is in competitive pricing. Today, staying competitive has everything to do with right now--being able to adapt to changes and provide accurate responses on the fly. Even if your strategy already includes price matching, promotions and loyalty programs, you can do more of the right now with digital signs.

In a recent report, RSR retail analysts Nikki Baird and Paula Rosenblum observed, “if the strategy is to execute one price across channels but match competitors' prices when it counts, then those policies need to make it to stores, particularly in response to consumers standing at shelves with smartphones out and on. ‘"Being competitive"’ is a loose and messy term in a store environment where there is little discretion in responding to consumers' demands for competitive pricing.1

 

Step tracking: It's more than just an exercise

Is walking around hanging shelf tags your employees’ best exercise program? It’s not difficult to calculate which is faster: walking through the store to hang paper tags or pushing a button to update signs electronically. But the advantages of a digital sign system extend well beyond the time saved.

The New York Times reports that “a typical grocery store puts 5,000 items on sale in a week and removes sale prices from another 5,000. That creates an abundance of opportunities for mismatches when workers print out the new price labels in a back room, then hunt for the proper place on the shelf to attach them.”2

And it’s not just the walking around the store that’s a challenge. Digital signs also eliminate the need for ladders and lifts to access larger format signs that are placed up high -- like an aisle endcap or a menu board over a deli counter. Switching to digital keeps your store associates’ feet on the ground. And any risk manager will tell you that’s a good idea.

Adding up all the areas of impact

When you’re adding up the costs and savings from a digital sign system, there’s a lot to calculate, and you'll want to make sure you're doing all the math. Here are some of the areas of impact to consider.

Add in the gain from enhanced service levels

Tough to measure, but worth it’s weight in gold. This is the added benefit of what happens when store associates can turn their attention away from trivial tasks and to your customers.

Subtract all the costs of not complying with regulations

Fines aren’t the only cost of violating government regulations; bad publicity is often more painful and expensive. And as new regulations continue to roll out, manually updating all your menu boards to reflect these changes is costly and takes time. With an integrated, digital solution your teams can quickly respond to changing product information, maintain compliance and keep the guesswork out of the process.

Add increased sales from more impactful promotions

Take a look at some of the larger signs in your stores, where people focus their eyes and naturally look for information. Digital signs allow you to provide more sophisticated promotional messaging in those locations, and speak to customers where they’re looking.

Venn_dark
Side angle of the c950de printer. Cropped to show the top half of the printer

A system with a shelf life

The pressure to keep up with current industry trends isn’t going away anytime soon. But, accommodating those trends is expensive, particularly when you’re thinking in terms of hundreds, if not thousands, of stores. Ultimately, it comes down to picking the right technology that will sustain a trend and then live beyond it. Your tech needs a shelf life.

To achieve this, it’s important to look closely at all of the costs associated with purchasing new technology--expenses that extend beyond the costs of hardware and software:

  • Consistent Integration: One system for all signage makes integration faster and easier, eliminates double work, and keeps all the signs in your entire operation in sync. 
  • Template approach: Design templates provide consistency in the look-and-feel of all your signs, and help make sure parts like pricing and sales information match across print and digital platforms.
  • Simplified training: For technology your store staff uses everyday, simplicity is key and automation is even better. It takes integration and a deep understanding of retail systems to pull this off. 
  • Expert support: An experienced team that can understand the complexities of the retail environment is going to keep you on the right path.

It can't hurt to look this good

Sure, you could say that looks aren’t everything...but have you seen some of these new digital sign displays? They don’t just look good to geeks any more, screens have transformed and now present truly beautiful, colorful visions.

Lexmark employee sitting at computer holding old manufacturing hazardous label in order to make a new one on the computer screen.
  • MOVE: Movement catches attention. Motion signage generates excitement, creates interest in promotions and helps to educate about products.
  • POP: Today’s new digital signs and ESLs provide color, flexibility and the ability to use the same design templates as your printed signs for more pop in shelf promotions.
  • PROMOTE: In grocery, as much as 30% of sales come from displays on the ends of aisles.3 High-traffic areas are perfect for large digital displays, and can be changed more frequently than static displays.
  • CHANGE: Activity in the store changes during the day. Digital signs allow you to highlight different promotions at different times of day to increase the likelihood of purchase.

It's not magic. It's just a new point of view

Would it surprise you to know that the power to create great print and digital signs has been right under your nose the whole time? Lexmark’s retail signage solutions can help you tap into that potential. We’ll leverage the power within your existing systems to help you arrive at your destination of beautiful signs that wow your customers. And, whether you choose to get there quickly or take your time on the journey, we’ll be with you every step of the way. It’s not magic; it’s just really great technology built with you in mind.

Deli-Menu_cropped_2

Get there gradually without doubling the work

The best digital signage solutions work seamlessly with the print signage solution you already have in place. This allows you to use the same system for both print and digital signage throughout your stores. You can grow your digital sign system at your own pace, based on your business strategy and goals.

Let's Talk

If you’re ready to know what Lexmark Retail solutions can do for you, contact us now. 

1 Pricing 2015: Learning To Live In A Dynamic, Promotional World  Benchmark Report 2015 Nikki Baird and Paula Rosenblum

2  Digital Tags Help Ensure the Price Is Right by Randall Stross February 9 2013 in the New York Times