Grocery store prices are changing faster than ever before — literally. This month, Walmart became the latest retailer to announce it’s replacing the price stickers in its aisles with electronic shelf.
Grocery store prices are changing faster than ever before — literally. This month, Walmart became the latest retailer to announce it’s replacing the price stickers in its aisles with electronic shelf.
The new labels allow employees to change prices as often as every ten seconds.
“If it’s hot outside, we can raise the price of water and ice cream. If there's something that’s close to the expiration date, we can lower the price — that’s the good news,” said Phil Lempert, a grocery industry analyst.
Apps like Uber already use surge pricing, in which higher demand leads to higher prices in real time. Companies across industries have caused controversy with talk of implementing surge pricing, with fast-food restaurant Wendy’s making headlines most recently. Electronic shelf labels allow the same strategy to be applied at grocery stores, but are not the only reason why retailers may make the switch.
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On one hand, this cuts down on paper/sticker waste and time spent making and printing new prices and such.
On the other, I don't like that they could just change the price whenever they feel like. Though others have said multiple states have laws against changing prices during the business day.
Paper waste is really something that was overstated in the early 2000s. Yes paper is made from trees. But trees are renewable compared to the silicon and carbon consumed in these electronic tags. It's way more environmentally friendly to use paper.
That would be my only concern. Like picking something up and have the price increase on my way to the register.
Though others have said multiple states have laws against changing prices during the business day.
Suddenly it makes a lot more sense why Walmart doesn't want to be open 24 hours a day...
I mean, even if they went back to 24 hours, I'm sure it would still be able to change at a certain time, like midnight or something.
But I get what you're saying.
I find it hard to believe that the environmental impact of having a paper tag per shelf which gets replaced maybe once a week is worse than the impact of manufacturing, installing and powering one digital screen per shelf.