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Future of Retail — The CFO Issue


issue 04


Factor in the relatively low cost of the latest systems on the market, which are specifically designed for legacy installation, and ROI can be achieved in a very short space of time. Energy costs for printing, and waste management costs to dispose of unwanted receipts can also be reduced. All of which help to enhance CSR credentials.


2. IMPROVED CONSUMER DATA AND BUSINESS ANALYTICS Retailers recognise that survival in today’s retail environment is dependent on placing the customer at the heart of their business and the key to understanding the customer, their tastes, preferences, likes and dislikes, is data. Digital receipting offers marketeers an unparalleled opportunity to truly understand their customers, as it is able to link each and every transaction to a specific shopper. In turn, the detailed and insightful information gained on individual consumer buying habits from digital receipting can be used to engage customers in a much more relevant and meaningful way. For business analysts, the level of detailed data


provided by implementing a digital receipts system is remarkable. From real-time sales of each product at an individual store, to till efficiency and checkout staff performance, the choice to go digital can add real value when it comes to making business decisions.


3. REDUCED RETURNS FRAUD Fraudulent returns are a major concern for most retailers. But protecting business interests and reducing fraud still needs to be balanced against providing a positive customer returns experience. The ability of digital receipts to connect the purchaser


with the transaction, and in turn the transaction with specific goods, means security and customer service staff are now more able to identify a potentially fraudulent return. Digitising the receipts process helps prevent losses


from the most common tactics used by fraudsters including: shoplisting; shoplifting with a ‘valid’ receipt; and new for old and self-scan checkout scams. They can also be made much more secure than their paper counterpart with the inclusion of encrypted data that makes duplication or forgery much more difficult.


4. ENGAGE CUSTOMERS VIA THEIR PREFERRED CHANNEL According to research carried out by Bronto, 64% of the respondents that said they would opt for a digital receipt and, given the choice, would also be open to receiving additional information on relevant in-store sales, product promotions and loyalty offers. With a growing appetite amongst consumers for


relevant offers sent to their mobile phones, digital receipting can increase the effectiveness of marketing communications. Not only by engaging them via their


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