When I saw this in action, I knew you’d want to learn about it. Grocery stores across the country are swapping out printed price stickers on aisles for electronic ones. Retailers say it saves time. But the cost of an item could change in the time it takes you to walk from the deli to the frozen aisle.
Electronic shelf labels (ESLs) are already in place in Whole Foods, Amazon Fresh stores and in regional chains, like Schnucks in the Midwest. Walmart plans to add ESLs to 2,300 stores by 2026.
They have a point about saving time
The typical Walmart store stocks roughly 120,000 different products. Adjusting all those prices manually takes days. With the ESL system, thousands of prices can be updated in the blink of an eye. Prices can change every 10 seconds.
Going digital also keeps prices consistent between what’s posted online and what you see in-store. OK, having fewer price discrepancies keeps customers (and employees) happy.
Another use: Lowering prices to clear out items close to expiration dates. Less food waste, cheaper food … But the leap to surge pricing isn’t a big one.
The urge to surge
Surge pricing is when a company jacks up the cost of something when demand is high. We’ve accepted rideshare apps like Uber do it during rush hour. Heat wave today? Bottled water goes up a dollar a case. That Ben & Jerry’s you were eyeing just got pricier, too.
Will stores use ESLs to keep prices fair or fatten their own pockets? You can bet your bottom dollar the latter will happen.
One smart cart
The idea of food getting even more expensive is tough. For now, use these tips to stay on budget:
- Free rebate apps like Upside (use code Kim to get extras), Ibotta and Rakuten give you cash back for buying groceries.
- Grocery store loyalty programs offer extra savings and are free if you hand over your phone number or email address. No one says you have to use your real one.
- Grocery store apps and websites usually offer specials.
- If you haven’t price-compared in a while, try Flipp to see which store near you has better prices on the items you want.
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