Why going digital yields real results
The digital era has transformed the buying experience, and it's on its way to re-inventing the way retailers provide a record of our transactions. The paper receipt has certainly served us well. The slip of paper is simple and practical, but in the ever-changing landscape of the digital world, it may also be headed towards the path of extinction. Digital receipts are steadily on the rise. Retailers are increasingly offering customers the chance to receive a receipt digitally instead of on paper-- According to recent research from Epsilon, the E-receipt will be adopted and offered by 60% of retailers by 2016-- and the advantages to brands choosing to go digital go beyond the obvious green benefit.
Why digital receipts retail ROI
Brands like Best Buy, Gap, Macy's, Nordstrom, and Sears/Kmart are leading the digital receipts game because these retail giants view E-receipts as personalized content that is more likely to stand out in a cluttered inbox because recipients have opted to receive them; opening another channel of communication. As such, the real estate on them is extremely valuable for communicating marketing messages that can yield powerful results when enhanced with the integration of big data analytics. Although, in order to not be perceived as aggressive marketing attempts, marketers must not operate under the assumption that the customer who wants an E-receipt will also want additional marketing materials and be added to promotional lists. Instead, the savvy marketer will employ a campaign to simplify the shopping experience.
Benefits of big data for brands: Connecting the dots for personalized content delivery
According to a recent study conducted by eConsultancy, 64% of companies want to improve their personalization. Brick and mortar stores are limited to macro trends when it comes to understanding consumer behaviour. Brand loyalty is fading away due to increased competition, and brands need to personalize the buying experience. With digital receipts, they can connect a purchase to a person and start building a purchase history and understand the drivers that make a person a repeat customer, while also improving levels of service and value. With all this data, marketers have the opportunity to provide customized recommendations, deals, and suggested purchases based on previous purchase patterns and those by other customers who bought the same item. If the customer feels like they are getting an experience that they can’t get anywhere else, it will keep them from being lured away to a competitor.
Loyalty earns consumers rewards
Asking a consumer if they would like to opt in for a rewards program, and not simply assuming they do, can also capitalize on an opportunity to reward loyal shoppers with special benefits and exclusive offers they wouldn't be otherwise privy to if they weren't receiving digital receipts.
Brands improve the customer experience by being at the forefront of trends that impact consumer and buying behaviour. To keep up to date with the latest tech insights, join our growing community or contact us to learn more about how investing in digital receipts will earn your business ROI.