Smart Price Tags Provide Maximum Profit to Retail Chains

Electronic price tags that can change the price of a product depending on demand, stock availability, shelf life and other parameters are developed by the Novosibirsk team from Novosibirsk State Technical University (NSTU). The novelty should provide the maximum possible profit to shops. 

Picture: NSTU Official Website

Price tags in stores will be able to change the price of goods in real-time, counting many factors. A student of NSTU Georgy Zorin and his colleagues won 900 thousand rubles for the development of the Smart Price Tags project.

Software and hardware complex Seller, developed in Novosibirsk, is a tool for increasing the profit of trading networks, which changes the price of goods automatically depending on the pricing indicators and displays the price on electronic price tags without the participation of additional personnel.

Seller analyzes the sales data from a cash register computer, checks the remaining goods in the warehouse, expiration dates of products and using mathematical algorithms and the use of neural networks calculates the best value for the goods in terms of profit.

Further, the system produces pricing and displays the price on the price tag. Each price tag is made of electronic paper, a board and a plastic case. The price tags are located on the shelf holder and are connected wirelessly to the computer.

According to the authors of the development, their price tags will be 20-30% cheaper than foreign analogues due to unique engineering solutions. After testing in real conditions, the system can be implemented in retail chains.

Ru-Main, 10.12.2019 

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