| | SEPTEMBER 20218WIDESPREAD DIGITAL RECEIPTS ACCEPTANCE CATALYSING HUGE RETAIL TRANSFORMATION By Soumya Chatterjee, Co-Founder & CEO, EasyrewardzD igital receipts are transforming retail marketing as it is an opportunity for retailers to digitally en-gage and offline customers. With digital receipts, retailers get access to customer data which can be leveraged to build 360° pictures of the customer and target them with personalized communications. The severity of the pandemic impact forced the retail sector to rapidly innovate to attract shoppers and shop-ping spends. These innovations also transformed the cus-tomer buying journey. Most retail customers have become comfortable with social distanced shopping, Phygital retail and contactless payments and this couldn't have been at a more relevant time. Even before COVID-19, during the last few years of the 2010s, initiatives like the #SkiptheSlip cam-paign had been making headlines on social media to reduce the use of paper receipts.Just as the corporate world will find it difficult to wean employees back to the office after the work from home cul-ture, retail customers too would shy away from returning to the old norms and are showing a preference for many of the best practices of new retail. One of those practices is `digital receipt'.With over 70 percent of customers opting for a digi-tal receipts since they are eco-friendly; this is going to have a transformational impact on retail as a business. (Businesswire)Given the advantages it offers, it's not surprising that customers too prefer digital receipts with over 90 percent of consumers finding them more convenient than paper re-ceipts. (NCR.COM)However, the real-world customer benefits of digital re-ceipts are varied and go much beyond; the reasons are easy to understand:· The safer and contactless shopping experience· Instant redemption of gift vouchers becomes easier as digital receipts are ever available on the mobile· Returns/exchanges/warranty issues are easily man-aged with zero dependencies on paper receipts that may get washed in the laundry· Easy access to purchase info like purchase date, price and store name which allow repeat purchase· implifying business expense process where employees Soumya ChatterjeeVANTAGE POINT
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