5 Reasons Why Newton is Your Key to Sales Promotions

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Many retailers deem sales promotion a useful marketing communication tool that can effectively increase sales, boost customer satisfaction, increase in-store traffic, and attract new customers. Therefore, several businesses implement sales promotion activities, such as flash sales, special offers, coupons or discounts, and other non-recurring selling efforts that are typically not part of a business’s ordinary sales routine.

Although sales promotion strategies are often effective, these activities are only short-term marketing tools, which aim to create urgency and generate revenue over a short period. Hence, to further promote their offered goods and increase sales, businesses must leverage other marketing strategies.

A lot of businesses in the retail industry are now leveraging technology to engage more customers and encourage them to make a purchase. Among the equipment being used by retailers to provide customer convenience and improve the store’s product promotion are digital signages, which attract customers to check the store’s product offerings, and self-checkout systems, which allow customers to process their purchases independently.

Furthermore, retailers are now shifting to use shelf labels that have an automatic price updating system. Businesses use electronic shelf labels (ESLs) to display the price of their products digitally. However, these digital shelf labels have more benefits to offer than showing the prices of products. Electronic price tags can show additional product information, allowing customers to read more about the good’s nutritional facts, size, and price per weight. It can also display stock levels, online prices of their competition, and reviews of products, and even enable simple ordering through QR codes.

ESLs help businesses save on labor and material costs from manually replacing paper price tags, as these can be managed, monitored, updated from a single location. In the long run, retailers will see significant savings in operation costs.

Accordingly, the use of ESLs ensures price accuracy between shelf labels and POS and reduces the penalty from price discrepancies. Hence, eliminating customers’ complaints due to price errors.

The retail industry is continuously evolving, and retailers have to follow this evolution to achieve consumer expectations and improve their in-store shopping experience. Technology is among the factors that have had a significant impact on the retail changes; therefore, businesses must consider using electronic equipment to draw shoppers, especially the young ones. This infographic from SoluM details why Newton is the key to businesses’ sales promotions.

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