Discounter Lidl will replace its traditional paper pricing labels with digital price tags in its stores across Portugal.
The initiative is part of the discounter’s continued commitment to sustainability and translates into annual savings of 400 kilograms of paper per outlet.
All Lidl stores in Portugal will switch to digital price tags by the end of the first half of 2024.
The initiative follows a successful pilot in one store last October, and it will now be gradually extended to the entire network.
The retailer estimates that the move will help save at least 108 tonnes of paper annually, in more than 270 shops that the Schwarz Group-owned retailer operates in Portugal, preventing the cutting-down of approximately 1,485 trees.
Digital Price Tags
Digital price tags will enable price and information changes almost in real time, ensuring the optimisation of processes.
The battery-powered tags, directly connected to the stock management system, will receive all information automatically, thus ending the complex process of printing and placing new prices in shops, which was previously done manually.
Read More: Top 10 Supermarket Retail Chains In Portugal
Sustainable Financing
Elsewhere, Lidl recently consulted Portugal’s BPI bank on the structuring of a sustainable financing loan worth €50 million, as part of its ongoing sustainability initiatives.
The transaction is aligned with the conditions established by the Sustainability Linked Loan Principles and indexed to the objective of improving the company’s ESG rating.
The move will consolidate the link between Lidl’s financing costs and the sustainability performance of its parent company, the Schwarz Group, with the aim of achieving ‘best-in-class’ targets in ESG indicators.
© 2023 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine.
