Stockholm, 24 September 2014: Pricer, a world leader in providing digital retail solutions to retailers, today commented on the recent ABI Research report, “Next Gen Retail: Electronic Shelf Labels”.
The report outlines how ESLs which are Near Field Communication (NFC) or Bluetooth Low Energy (BLE) enabled are set to play an increasingly central role in the retail technology chain. In fact, the report forecasts that over the next 5 years ESLs are set to grow beyond retail markets in legislated countries, with revenues increasing six-fold to almost US$2 billion by 2019.
Patrick Connolly, Senior Analyst at ABI Research, stated that: “ESL, in combination with Near Field Communication (NFC) and/or Bluetooth Low Energy (BLE) solves ongoing retailer issues like, out-of-stocks, check-out expenditure reduction, manual price coordination overheads elimination, inventory and store layout management, Omni channel consistency, and efficient price management of shrinkage/perishable goods, delivering an ROI [Return on Investment] within 18 months on these use cases alone. With integrated connectivity, it also brings future potential around dynamic pricing, positive showrooming, tightly integrated in-store advertising/redemption/loyalty, analytics, and pay-as-you-go shopping.”
The content of this report is in keeping with Pricer’s overall strategy, which was outlined in the company’s Q2 report. Jonas Vestin, CEO at Pricer, said: “Retailers are being increasingly attracted to the revenue-enhancing possibilities offered by new and emerging technologies. Pricer’s digital retail platform will play a major role in creating truly ‘connected stores’, allowing retailers taking full advantage of these fresh opportunities and improve store performance, simplify price optimisation between physical and online stores, advance customer satisfaction and loyalty – and ultimately boost their bottom-line.”
Pricer has already proven the concept with the recent implementation of their solutions in Carrefour’s new flagship store in Paris. The store became the first worldwide to allow customers to benefit from Pricer’s digital retail platform using indoor navigation, mobile shopping and NFC enabled SmartTAGs. The project has been shortlisted for prestigious international retail awards.
For further information please contact:
Jonas Vestin, CEO Pricer AB: +46 8 505 582 00
In its capacity as issuer, Pricer AB is releasing the information in this press release in accordance with the Swedish Securities Exchange Act (2007:528). The information was distributed to the media for publication at 10:00 hrs CET on Tuesday, September 24th, 2014.
Pricer provides the retail industry’s leading electronic display and Electronic Shelf Label (ESL) platform, solutions, and services for intelligently communicating, managing, and optimizing price and product information on the retail floor. The platform is based on a twoway communication protocol to ensure a complete traceability and effective management of resources. The Pricer system significantly improves consumer benefit and store productivity by simplifying work in the store.
Pricer, founded in 1991 in Uppsala, Sweden, offers the most complete and scalable ESL solution. Pricer has installations in over 50 countries with the largest ESL world market share. Customers include many of the world’s top retailers and some of the foremost retail chains in Europe, Japan and the USA. Pricer, in co-operation with qualified partners, offers a totally integrated solution together with supplementary products, applications and services.
Pricer AB (publ.) is quoted on the Nordic Small Cap list of OMX. For further information, please visit www.pricer.com