A Perth-based IT company, RAPIDtech Solutions, is rolling out a new electronic price ticketing system, which it says will improve labelling systems in Australia.
After months of real-time testing in a Brisbane Priceline store, RAPIDtags – the mass electronic shelf price labelling system – is now ready to be rolled out into retail stores, supermarket chains and franchise businesses, with a version for clothing retailers, which doubles as a security tag.
RAPIDtech Solutions is a venture by Perth businessman Peter Vodicka, James Beveridge and Brad Hawkins of Perth IT company, Elevate Business.
Its flagship product RAPIDtags, allows tens of thousands of electronic shelf labels to be updated instantaneously across multiple stores in different locations via Point of Sale systems. The electronic labels on shelves are e-ink battery-powered.
Beveridge said the system cuts out laborious paper ticketing, reduces the risk of human error and frees staff to better serve their customers.
“It’s a game-changer for retailers. The potential for RAPIDtags is unlimited because there’s massive advantage in being able to control dynamic and instant in-store pricing.
“What has, until now, been an arduous task occupying staff for many hours every time a price catalogue or campaign has been released, requiring paper, printing and shipping, can now be done by entering prices just once and transmitting them electronically to numerous sites, anywhere in the world.”
Beveridge added that RAPIDtags also allows retailers to make spontaneous price changes like flash sales, or immediately clear items close to expiry or quickly price-match competitors.
It also allows customer interaction via Near Field Communication (NFC) on their phones, taking them to websites, recipes and other relevant product information while they’re shopping.
Each e-ink RAPIDtag has battery power to last up to five years.
“We know the product is ready and that it’s going to make a big difference to retail business in Australia,” Beveridge said.
‘The savings and return on investment are straight forward and our finance model makes it affordable to a wide range of retail businesses.”
Owner of multiple pharmacies, Foad Salehi, welcomed the trial of RAPIDtags in a Priceline store in Brisbane. There are now about 8000 electronic price labels installed across that store.
“It used to take about 20 to 25 hours per store every fortnight to change pricing in line with our catalogue,” Salehi said.
“The electronic labelling system enables us to spend more time focusing on our customer service, which is the clear way that retailers can win out over online shopping.”