Retail printers are electronic devices typically designed for printing of labels and receipts that are used within the retail space. Retail printers usually do not have programmable logic controllers of its own, but relies on an external system. Label and receipt printers are adopted for speedy and efficient printing of labels and receipts. These devices find applications in various industrial verticals like manufacturing, logistics, healthcare etc. However, its utilization in the retail industry overshadows all other verticals prompting the manufacturers to register long term tie ups with various small scale and large scale retailers. The consumables used within these printers are labels, ribbons and paper. Ribbons and labels are used in conjunction with label printers utilized exclusively to generate labels while paper is typically used to generate receipts at POS stations.