A new market study, titled “Electronic Shelf Labels(ESL) Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.

PUNE, MAHARASTRA, INDIA, December 29, 2020 /EINPresswire.com/ -- Introduction
Global Electronic Shelf Labels(ESL) Market
With how fast technology is taking over our lives, it isn’t surprising that the Electronic Shelf Labels are the new reform of the retail industry. The consistent struggles of matching up to the online pricing have been an alarming issue for the retailers, but the ESLs do aim to make that process a lot easier. These devices are consistently gaining market momentum, streamlining the process of purchase and sales a lot better for the retailers involved.
The main reason why experts predict ESLs to become the next big thing for the future of the retail industry is because of the benefits it projects. Not only does it help streamline better ROI for the retailers, but it also helps reduce the risks of human error, helps on cutting back on the unnecessary waste and even boosting the overall price perception. Statistics suggest that all of these combined can help propel the profits of the retailer up by 5%.
Majority of the big grocery chains across the United Kingdom and the United States are planning on implementing the technology of ESLs in the coming three years. Germany has already started implementing this and have them stocked up in the pipeline to drive better growth than before.

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Segmentation
Coming round to the actual necessity behind the ESLs, they have been found to help retailers save time for focusing on other factors of the business. Not only does this technology make it easier for the customer to grasp the concept, but it also makes the process of pricing display a lot more streamlined for the involved retailers too.
In between the years of 2014 and 2024, things with the Electronic Shelf Labels has changed and improved drastically. With better technological advances and automation, it isn’t a surprise that ESLs are not a fact of the past anymore.

Regional Analysis
When it comes to analysing the scopes of implementation and current usage of the ESLs across the world, the market research trends do bring up quite a number of countries in question. Several of the continents have been on the drive to adapt and change into ESLs for streamlining their pricing display and churn better ROI.
Countries like the US and the UK are expected to completely overturn and rely on the usage of ESLs in the coming three years. Germany has already started taking the stepping stones with the usage of ESLs and is continually spicing things up for better results in the near future. Even other countries from the Middle East as well as Asia-Pacific are in possible talks of adapting to these to better hone their profits in the retail industry.

Industry News
Big brands are finding it easier to have ESLs tagged for easier understanding and better performance. The successful implementation and usage of this technology is further believed to help transform the business profits and ensure lesser errors that can enhance the return on investment in the retail industry. Amazon is believed to be one of the best examples in this. According to the reports, the valuation of the ESL market is estimated to be around 1.50 billion by 2023.

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NORAH TRENT
WISE GUY RESEARCH CONSULTANTS PVT LTD
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