Retailers can now send fully-itemised digital receipts to their customers by combining payment, loyalty and rewards into one single action…
Nine out of 10 shoppers say they want their in-store checkout experience to be faster and more convenient (Harris Poll).
At the same time, nearly 70% of Europeans believe it is important for brands to implement programmes that will improve the environment (Neilsen).
Only 22% percent of transactions now take place using cash, according to the British Retail Consortium.
However retailers are still obliged to provide proof of purchase to their customers, which is why 11 billion paper receipts are still printed each year – the equivalent to 53,000 trees (Parcelhero).
To combat this, many retailers now try to deliver e-receipts with a view to make the checkout process faster and make the customer payment experience more convenient.
What’s more, it improves the brand’s environmental footprint overnight.
But e-receipts have received a mixed bag of results, with too many friction points created (a requirement for the name and email when the customer is shopping in-store, for instance).
And while spend tracking products from challenger banks have proved popular, the data still only provides a broad overview and is not granular enough to reveal the individual items a customer has bought.
This is why Yoyo is providing the fastest and most convenient way for retailers to deliver fully itemised digital receipts, combining it with payment, loyalty automation and rewards collection through one single action – the moment your customers pay!
The problem with receipts
Retail customers are increasingly seeing the benefit of easily accessible digital financial features such as budgeting and saving services.
Paper receipts no longer fit into these expectations and benefits, while email receipts continue to pose problems. Let’s take a look at some of the issues:
- Paper receipts cost UK businesses at least £32m a year, according to campaign group Beat the Receipt.
- Paper receipts create friction at the checkout, slowing down the payment process and increasing the potential for longer queues and dissatisfied customers.
- Of the 11 billion receipts printed, nearly 9.9 billion are lost or thrown away each year (Beat the Receipt).
- About 50% of paper receipts are printed on special thermal paper, which contains Bisphenol A (BPA) and Bisphenol S (BPS). These chemicals have been linked to increasing the risk of cancer and infertility.
- Paper receipts contribute to the UK’s carbon footprint. Eaternity.org estimates around 2.5kg CO2eq / kg of receipts is generated in carbon emissions – the equivalent of around 21km driven in a car.
- E-receipts create new friction points at the point-of-sale. The need to find out personal information at the checkout slows down the payment process and is off putting for customers.
- Several banking and financial services products claim to be able to track and deliver spending behaviour insight to their customers. Whilst these providers can identify the sector/area/store where a customer has made a purchase, they are unable to reveal spending at a product level.
What makes Yoyo-powered digital receipts different?
First thing’s first. How do we provide fully itemised digital receipts when others can’t?
Through a Yoyo-powered payment and loyalty retail app experience, we’re the only technology platform that can match the individual products your customer buys in-store to their (anonymised!) user identity.
This enables us to instantly deliver a fully itemised in-app receipt the moment they pay at the checkout.
All you need to do is provide Yoyo with a full list of your PLUs (product codes) and we do the rest to make it all happen.
What information do your customers see from Yoyo-powered digital receipts?
Your customer’s fully itemised receipt can be found in their Yoyo-powered app’s activity feed. Information includes:
- Each purchased product
- The time of purchase,
- The store location
- Any loyalty points or stamps earned
- VAT information
Taking a fast customer experience beyond digitally itemised receipts
We see digital receipts as just one part to delivering a better and more rewarding in-store experience to your customers.
Here’s what else happens when your customers use a Yoyo-powered retail app at the checkout:
- Secure, straight-through mobile payment
- Automated loyalty accumulation
- Instant rewards redemption
- See more about the wider Yoyo-powered customer experience here.
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