Electronic Fashion Labels
Dynamic pricing is an important component of every digitalization strategy and is increasingly becoming a key success factor. Self-learning algorithms analyze available data, calculate price elasticities and determine the optimal price at every point in the season. Sales and revenues can thus be significantly increased and mark-downs reduced. With the help of electronic price labels, price changes can be carried out efficiently and in real-time, even in brick-and-mortar retail. By managing prices centrally, the time-consuming process of manually changing prices is eliminated. The time saved by the sales personnel can thus be invested in assisting customers.