Paper receipts are on their way out while digitised receipts are on their way in as Australian bricks-and-mortar retailers continue to transform their customer experience by sending receipts directly to bank apps, a recent Inside Retail report has revealed.
Having the ability to send itemised tax compliant receipts straight to a customer’s bank app not only encourages smarter commerce but also takes a positive step towards greater sustainability, according to the report
Smart receipts are also brimming with opportunities because they allow Australian retailers to deliver a more streamlined and personalised customer journey. E-commerce recently experienced a dizzying 57-per-cent growth during the pandemic as bricks-and-mortar retailers turned to technology to bridge the gap between the in-store and online experience, according to the report.
Many of Australia’s best-known retailers, including Mitre 10 and Chemist Warehouse are some of the first to offer their customers Smart Receipts, according to the report, with customers now receiving Smart Receipts from over 850 retail stores and hospitality venues across Australia. Smart Receipts are delivered directly to the banking app and via SMS, allowing for convenient access from their mobile phones.
In the same way contactless quickly became the preferred method of payment, Smart Receipts are expected to become essential rather than optional for retailers. Smart Receipts are also designed for businesses to deliver a more valuable customer experience, offering personalised experiences to draw shoppers in without appearing intrusive, according to the report.
Retail experts believe that if retailers were to ditch printing receipts altogether, as a nation we could save approximately 1.5 million trees, 249 billion litres of water, and 4.5 billion litres of oil in just one year, with Smart Receipts clearly providing a simple and effective solution to the waste created by harmful, non-recyclable thermal paper receipts which end up in landfills.
Now with Gen Z becoming a more prominent part of the workforce, their buying power is also growing on the high street according to the report, and as a generation that takes a far stronger stance on environmental issues than any preceding it. The onus is now on retailers to ensure they offer an experience that matches customer expectations.