E-receipts: Key Trend in Retail Industry

02/18/22 09:57 AM By Nazneen

If you have stepped outside for shopping and made a physical purchase at a store, what would you prefer - a paper receipt or a digital receipt? Not just you, but 45% of shoppers want a digital receipt for in-store purchases. In the 2000s, Apple and a few startups bolstered digital receipts to promote sustainability. 

Indeed, e-receipts support the environmental cause, but today they are viewed as more than just an invoice. 40% of consumers are likely to buy from a brand that cares about the environment and protects the planet. E-receipts have become mainstream and a common phenomenon, helping retailers save thousands of dollars and transforming retail marketing. And hence, many retailers have started embracing digital receipts to not only do their part in saving the environment but also to show a positive appeal to consumers. 

Fundamentally, a digital receipt is an excellent substitute for paper receipts and a bold step towards our society. Nowadays, customers want a faster checkout process that e-receipts can help deliver without compelling them to withhold a receipt altogether. Moreover, you can’t lose digital receipts than paper, making way for faster returns as well. All this improves sales operations and efficiency. 

Bolster Personalization
E-receipts serve as a great tool that urges retailers to try online sales and get their hands dirty with coupons and promotions. The latest e-receipt technology helps retailers add marketing and promotional content in the receipts to drive repeat sales. You can even add links to your website and social media in your receipts. Special announcements, like new product launches, can also be added to the receipts. OptCulture E-receipt solution leverages cutting-edge technologies to help retailers easily embed marketing-related content in digital receipts.

Of course, many consumers will view digital receipts as just an invoice and ignore any such promotional content. The key here is to make it personalized. 78% of consumers engage with personalized offers provided by a brand. And if you incorporate personalization in your digital receipts, you’re bound to get an open rate of 79% and click-through rates as high as 164.6%. You wouldn’t want to miss out on such a fantastic opportunity to engage with your customers.

Better Database
E-receipt databases will be richer than those utilized in retailers’ regular customer programs. They can track both online and in-store sales that can give you a better understanding of consumer behavior. It will also be better since this database is private as only you have access to their information. So, a consumer will be more able to amplify it with individual data like monetary objectives, lifestyle information, or what they’re keen on shopping with you, unafraid of being immersed with unwanted marketing messages. 
And when you understand the products consumers are interested in buying, you are halfway through retaining a customer. Superior the customer retention, the higher the sales. 

Perhaps, offering email receipts to in-store customers isn’t only valuable to your business; it’s fundamental in the omnichannel retail world we live in. If you’re still thinking about implementing e-receipts, you need to start acting soon as your customers will definitely begin to expect both the convenience and the personalized experience of a digital receipt.

Getting your frameworks set up now will put you on top of things. Here, the E-receipts solution from OptCulture will help you engage with your customers and drive brand loyalty. You can easily integrate OptCulture’s E-receipt solution with your point-of-sale to deliver exceptional customer service. 

This blog was originally written by Priya Dialani for OptCulture.