Dynamic Pricing and Electronic Shelf Labels: New Technologies in Retail

Retail trade has long been one of the most technically conservative types of economic activity. The last decades have radically changed the situation in this industry in terms of the use of new technical and information technologies. The joint use of dynamic pricing as a method of setting prices for goods sold and the use of electronic price tags as a hardware solution will allow to increase the profitability of retail trade enterprises, increase the efficiency of trade and technological processes. The theoretical and practical aspects of the use of dynamic pricing are studied, the goals of applying dynamic pricing in the implementation of marketing strategies of retail companies are determined, the prospects and limitations of the method in retail trade are studied. The regulatory requirements for the use of price tags in retail are analyzed, the main technologies implemented in electronic shelf labels tags are considered, the economic and organizational advantages of using electronic price tags in conjunction with the dynamic pricing method are studied. It is determined that the joint use of dynamic pricing and electronic shelf labels, despite a number of financial and technical limitations and organizational difficulties, in the near future will determine the success of individual retail players (retail chains) in the highly competitive consumer market. This will lead to the abandonment of the use of paper price tags, and dynamic pricing will become the standard method of setting prices in traditional retail, as it currently is in the field of online commerce and service.