Other than the product purchased, the receipt is often the only thing a customer leaves your store with, so why do only 34% of retailers offer digital receipts in an age of pervasive digital disruption?
Going digital provides myriad benefits to consumers and retailers alike, allowing their relationship to grow long after the sale is done by improving the experience in some of the most critical areas for success. Some have direct benefits for consumers, while others enable better insights and business intelligence for the retailer, which over time, allow them to create better merchandising strategies and become more personal, efficient and profitable.
Loyalty and promotion campaigns
We know that shoppers want to see more personalisation in their retail loyalty schemes. Digital receipts allow retailers to track each customer’s product preferences and instantly deliver relevant offers at the time of purchase. Your customers choose you because you sell them what they want, at a good price, so why dilute your brand with irrelevant offers? Stock the items they want, target them with the right messages at the right time, and drive long-term loyalty.
Convenience and speed
In today’s on-demand economy, customers expect to fulfill their product needs in various ways, from buy online, pick up in store; to click and collect and home delivery. A key consideration for any retailer should be to give consumers multiple options and the ability to choose the one that suits them. So when it comes to receipts, why not give customers the option to choose between paper, digital, or both? With electronic receipts, customers don’t need to clutter up their purse or wallet with fading paper receipts, plus, from the retailer’s perspective, this means a reduction in paper jams, ink changes and roll replacements at the till! The potential cost savings for retailers can be significant.
We never leave our smartphones behind, so with ereceipts, information about purchases is available immediately, and forever, at the consumer's fingertips. The receipt goes wherever the shopper goes, so long as they have access to their emails, which makes returns easier for both the consumer and retailer. Returns aren’t a blessing to any retailer, but they are a fact of life, especially for merchants offering an ecommerce store in tandem with their physical locations. Digital receipts help alleviate some of the stress of having to limit receipt not present returns to mere exchanges, the risk of cashback returns without a receipt, and the logistical challenges of managing inventory that can’t be automatically reintroduced to the inventory management software.
Online banking once revolutionised the way consumers track their expenses. But digital receipts may hold similar potential. Because online banking and budgeting apps only track digital transactions, there is a noticeable lack of clarity around cash purchases. Ereceipts allow you to review all purchases, not only those made via card. More accurate intelligence leads to smarter budgeting and eventually (maybe) better spending habits!
Business leaders can’t be everywhere at once. But they can collect data on everything that happens, and customer feedback is some of the most critical data available to improve operations and keep customers coming back. Ereceipts do this with unparalleled simplicity by asking a simple yes or no question on the consumer’s screen.
This data can be fed back to the organisation’s headquarters and to store managers to see how stores and individual staff members are performing. They can spot trends in shoppers’ experiences of their stores, as well as identify shifting consumer expectations, and make changes to improve customer experience.
All of these consumer benefits help convince shoppers that it is in their best interest to opt in to digital receipts. Retailers can take advantage of their willingness to register for ereceipts to also solve one of marketing’s most expensive operations, email collection. In fact, data shows that 17% of marketing budgets are dedicated to email. So not only do digital receipts help marketing departments collect unique shopper data and provide customised offers through a branded application, they can also reach them on one of the most commonly leveraged marketing channels, email.
A single customer view – joining online and offline behaviour
If customers have used the same email address for a digital receipt in-store and for online purchases, retailers gain a ‘single view’ of customer wants and preferences. This builds a more accurate profile of shopping behaviour, connecting customers to their transactions, which can be really powerful for the retailer. This allows them to deliver better and more relevant offers or messages, building long-term loyalty.
What are you waiting for?
Digital receipts have the potential to radically empower your organisation to improve customer experience and drastically enhance the personalisation of your marketing. What they will not do is foundationally disrupt your business, devour your investment , or delay your ROI. So what are you waiting for?
Reach out to Ecrebo today and see how digital receipts can work for your business.