Introduction
In the fast-paced retail industry, efficient and accurate price management is crucial for maintaining competitiveness. This case study explores how CBEST Supermarket in Chongqing successfully implemented ESL (Electronic Shelf Label) solutions to transform their price management process across 50 stores.
Challenge
CBEST Supermarket faced the challenge of managing prices effectively in their extensive network of stores, each with an average size of 1500/3000 sqm. With a vast inventory of approximately 13,000 product SKUs per store, manual price updates were time-consuming, prone to errors, and hindered the ability to respond quickly to market dynamics.
Solution
Recognizing the need for a more streamlined approach, CBEST Supermarket turned to ESL solutions. By implementing electronic shelf labels, they revolutionized their price management system. With an average of 10,000 to 18,000 ESL labels per store, CBEST Supermarket gained real-time control over pricing, enabling them to enhance operational efficiency and customer experience.
Benefits and Results:
1. Enhanced Accuracy: ESL labels eliminated pricing discrepancies caused by manual updates, ensuring consistent and accurate pricing across all stores. This not only improved customer trust but also reduced instances of pricing errors and disputes.
2. Time and Cost Savings: The automation of price updates through ESL labels significantly reduced the time and effort required for manual price changes. This allowed CBEST Supermarket staff to focus on other critical tasks, improving overall productivity and reducing labor costs.
3. Flexibility and Agility: With ESL solutions, CBEST Supermarket gained the agility to respond swiftly to market changes, promotions, and markdowns. Real-time price updates enabled them to implement pricing strategies promptly, stay competitive, and maximize revenue opportunities.
4. Improved Customer Experience: ESL labels provided customers with accurate and up-to-date pricing information, eliminating confusion and ensuring transparency. This enhanced shopping experience contributed to increased customer satisfaction and loyalty.
Conclusion
CBEST Supermarket's adoption of ESL solutions in their price management process has brought about a significant transformation. The implementation of electronic shelf labels across their 50 stores, with an average of 13,000 SKUs and 10,000 to 18,000 ESL labels per store, has resulted in improved accuracy, time and cost savings, greater flexibility, and an enhanced customer experience.
By embracing digital price management, CBEST Supermarket has positioned itself as an industry leader, setting new standards for efficiency and customer satisfaction in the retail landscape.
