GE Appliances (GEA) recently approved a new program that will allow Nationwide Marketing Group members to use their accrued co-op dollars to purchase digital price tags for their stores. The appliance manufacturer will offer reimbursements of up to $3,500 per year per retail location for digital tags that are used to showcase products under the GEA umbrella.
“This program through GE Appliances presents Nationwide dealers with an incredible opportunity to upgrade their in-store shopping experience at essentially no cost to the member,” said Chris Kirk, vice president of business and financial services for Nationwide Marketing Group in a statement. “Digital price tags not only enhance the shopping experience by offering more information to the customer than a traditional shelf tag, but they also ensure accurate and up-to-date pricing information, which can save a retailer from potential lost revenue.”
Reimbursements will apply to digital price tags purchased outright — not rentals — and only apply to the cost of the actual price tag, not any applicable monthly service fees.
“We are excited to launch this opportunity so dealers can execute their in-store and website strategies more accurately and efficiently,” Kyle Musser, senior program manager – buying groups for GE Appliances said in a statement.
The GEA program represents the second major digital price tag offering for Nationwide members. Earlier this year, Whirlpool launched a similar program that provides the same level of reimbursement and similar conditions. The concept was first introduced during PrimeTime in February alongside the rollout of FlashTags from Nationwide-partner Retailer Web Services (RWS). The FlashTags service, powered by the company’s proprietary WebFronts platform, streamlines and simplifies the management of electronic shelf labels (ESLs) for retailers.
“An increasingly volatile market makes it difficult to keep in-store prices accurate and up to date,” said Jennie Gilbert, RWS’ chief operating officer in a statement. “FlashTags solves this challenge by automatically updating retailers’ ESLs when prices on their website — or any other conditions they define — change. There’s no more wasting hours reprinting tags, no more embarrassment when prices fall behind and no more lost profit opportunities.”
In July, RWS celebrated a major milestone as it turned on its 10,000th FlashTag, underscoring a four-fold increase in the number of activated FlashTags at Nationwide dealers’ stores since January. Further, the number has more than doubled since April — a testament to retailers’ commitment to improving the in-store experience, even in the face of a global pandemic.
We are a very competitive company and using digital price tags has allowed us to automate the pricing process and create a unified price both online and in-store,” said Rob Ernst, vice president of Appleton, Wisconsin-based Van Vreede’s in a statement.
Leveraging the power of WebFronts and FlashTags, Van Vreede’s store managers “save a significant amount of time and angst, which is used to address higher-level issues,” adds Ernst. “I would strongly encourage other retailers to consider an investment in digital tags. This will help ensure they remain competitively priced and alleviate the anxiety associated with manually retagging merchandise before and after promo periods.”