What is an e-receipt? And should your business use them?

Life in the finance department can be frustrating at the best of times – sending invoices, chasing customer payments, keeping on top of the payroll and, of course, wading through the reams of receipts.

The advent of e-receipts has made life a lot easier though, and not just for the finance department, they can open the door to a whole new level of personalised customer marketing and engagement.

What is an e-receipt?

An electronic receipt, or e-receipt, is a proof of purchase issued instead of a paper receipt, usually via email, for any goods or services that have been paid for.

Why use an e receipt?

There are two main reasons to use an e-receipt – to save paper and save time.

As a customer, an e-receipt is easy to file and find if you need a receipt for tax or business reasons, want to return an item, or make a claim on a warranty.

As a business owner, an e receipt is a great way to build up a customer list, generate customer data and then cross-sell with personalised sales incentives.

eReceipts Journey from eReceipts on Vimeo.

The future of e receipt?

eReceipts, the world’s leading digital receipts provider, is re-branding a Yocuda (‘Your Customer Data’) to launch its new service that enables retailers to identify and engage 100% of in-store customers in real time.

It is the first end-to-end data driven service of its kind and is geared to enable retailers to push sales and profit through improved customer insight, personalised marketing and tailored experiences.

The new service means retailers can put customers at the centre of all business decision making and create tailored experiences through linking customer transactions.

The vast majority (80%) of most multi-channel retailers’ sales still originate in bricks and mortar stores, and the inability to use real time transaction data to understand customers habits limits the ability to provide optimised customer offerings.

Yocuda unlocks retailers’ transaction data, linking it to customers to provide a Single Customer View and derive deep customer insights (allowing retailers to embrace behavioural along with demographic insights), enhance customer engagement and establish better operations, ultimately allowing retailers to profit from having a greater view of their customers’ data.

  • The award-winning company has tiered its services into four core product categories: eReceipts – the core technology that unlocks retailers’ transaction data and enables them to send digital receipts)
  • Yocuda Operations
  • Yocuda Engagement
  • Yocuda Insights

These new tiers facilitate retailers to create highly personalised real time customer engagement, from returns management and loyalty schemes to retention marketing offers and coupons at till.

Yocuda CEO, Andrew Carroll, said: “By launching Yocuda, we aim to level the playing field with pure play e-commerce retailers by bringing the benefits of e-commerce tracking and personalisation to the in-store environment.”

He added: “With our real time insights, Yocuda empowers staff to have a far more meaningful conversation with customers on the shop floor that will ultimately tailor the experience, drive customer loyalty and allow retailers to optimise sales opportunities.”

Has GDPR had an effect on e-receipts?

General Data Protection Regulation, or GDPR, is a data protection legislation that came into effect across the EU on May 25, 2018, with the aim of changing how businesses and public sector organisations use and handle customer information, and give individuals greater control over how organisations contact them and use their data.

If you’ve recently shopped at any number of high street outlets recently, you’ll probably have been given the option to have your receipt emailed to you – have you ever wondered why they want to email your receipt to you, or what they do with the data this gives to them?

One of the main reasons retailers want you to take an e-mail receipt is to help create a single view of you as a customer and track your purchases across all channels, including mobile, online and in-store.

This might sound nefarious, but it’s pretty common practice and just another of those ways you’re targeted with adverts and emails promoting particular products or services. Some retailers might also send out other marketing materials, including questionnaires, promotions and offers.

This all worked on the idea that offering your email address implied consent that you were happy be sent any manner of marketing emails and materials, even long after the actual purchase was made.

But GDPR has tightened things up, and retailers can no longer assume you’ve consented to receive any number of marketing communications, based upon the fact you’ve provided an email address for a receipt. You consent must be unambiguous – meaning that if you do want to receive marketing materials, you’ll need to check a box to that effect – and the retailer must keep records of consent under the GDPR’s accountability principle.

Does your business use e-receipts? Does it help with customer insights and marketing? Let us know…

 

3 Comments

  1. Angela said:

    There are some great insights here, and the value of e-receipts is definitively misunderstood and underappreciated. But if I may say so, I think maybe you buried the lead here. This piece really struck a chord with me when I got to the loyalty schemes and retention marketing. It’s so frustrating as a customer not to be able to return something or prove a purchase just because you misplaced the receipt. And there’s no reason for a company today not to be able to track every purchase digitally.

    November 27, 2018
    Reply
    • Les Roberts said:

      Thanks for getting in touch, Angela – that’s a really good point, as even cash transactions can be tracked digitally (when a barcode is scanned, the sale is recorded and processed), so there’s no real need for retailers to be presented with a physical receipt.

      November 30, 2018
      Reply

Leave a Reply

Your e-mail address will not be published. Required fields are marked *