Electronic price labels from MarketHub can help you keep on top of out-of-stocks, but first let’s ask ourselves – what price are we paying for having empty shelves in our stores?
Research by IHL has revealed that empty shelves account for a massive 32% of the instances when consumers who entered a shop with an intent to buy left without purchasing.
And this figure is on the rise, with out-of-stocks growing significantly from 2015 to 2018. Consumers are experiencing out-of-stocks in as many as 1 in 3 shopping trips.
Considering 68% of shoppers say they avoid returning to a store if they find an empty shelf, this practice could alienate a huge section of your customers and have lasting negative effects of your business.
Having empty shelves is costing your business right now. Not only are you missing out on sales, you’re also losing customers.
The solution? Better store management is key here, and electronic price labels could be a key part of resolving this issue.
You can set your electronic price labels to show an ‘Out of Stock’ message when Pulse thinks the shelf is empty, which makes it easier for staff to spot the gaps in stock.
Not only that, but the ‘Dropped Sales’ report in our Pulse system flags when products which have been selling consistently for 5 weeks don’t sell for 1 week or longer. This gives you more insight into where there are potential issues with out-of-stock products in your store. Retailers who use the features like this in Pulse often notes that it’s so much more than a dynamic pricing software, and it could help your day-to-day restocking problems.
So if you’re looking for an easy way to keep your shelves stocked using technology, don’t hesitate to contact us here at MarketHub and we’ll be happy to help.
You can also take a look at our case studies to see how other retailers are using Pulse to bring their electronic price labels to life and stop empty shelves eating into their profits.