Will Receipts Become Paperless? We Hope So!
Want to wave goodbye to paper receipts and free up your purse, wallet and car?
For modern commerce, the paper receipt has served as a punctuation mark. It’s a proof of transaction and a physical symbol that a purchase has come to a close. In a more subtle way, it’s also an agreement between the retailer and the customer of the terms of sale as well as a mode of record keeping for the purchaser.
Going Digital
However, in the digital era, with an increased number of payment options going digital, the paper receipt seems to lose some of its luster and functionality. Alongside that, we’re starting to see more signs of a paperless receipt future.
One of the earliest adopters of this paperless receipt trend was Apple. Any purchase made in an Apple store—whether it’s a top of the line computer or a simple pair of headphones—does not come with a receipt in-store. Instead, a sales associate asks you for your email and sends it to your inbox. This is entirely in keeping with Apple’s reputation as a trendsetting retailer that prides itself on minimalism and streamlining processes. However, it was still a rather bold move to make in a time where analogue payments are still mainstream.
Following Suit
We’re beginning to see signs that the reign of the paper receipt may be coming to a close in the less premium retail sphere as well. One example is the mega UK supermarket chain called Tesco, which recently announced that it is piloting a digital receipt system in one of its outlets to see how customers will respond. The company took a departure from Apple’s email receipt method. This retailer opted for a mobile-based method which Mashable described as a system where, “customers can tap a unique sticker on a special terminal at the till following their purchases. The terminal then sends a digital receipt to a pre-installed mobile app, which allows customers to keep a record of their purchases. Data is stored anonymously and Tesco cannot use the collected information for marketing, the company said.”
While it’s true that this is only being undertaken by one outlet of one chain, it has significant implications. If a retailer as large and varied as a supermarket chain sees that it’s worthwhile to ditch paper receipts and decides to do so at all its stores, it could accelerate the rate other retailers increase uptake.
The Convenience of it All
The no-receipt revolution is also part of a larger trend of millennials who eschew paper record-keeping for a purely digital method. Indeed with an increased interest in data and apps which help track your spending, it’s easy to imagine a future where digital receipts are far more meticulously kept than their paper predecessors. Consumers collate the data gleaned from their receipt collections to provide insights and can easily change their spending habits.
Save the Trees
Another trend that paperless receipt aligns with is the eco-friendly position. For consumers concerned about sustainability, the thought of accruing and disposing of all those receipts over a lifetime can be hugely unappealing. Similar to the way that many have easily adopted to plastic bag bans and charges, many consumers would welcome paperless receipts with open arms.
As an Ernst and Young report regarding the forecast for digital receipts stated: “From a payment perspective the trick is not enriching the shopping experience but making it simpler. If any new solution is not quicker or easier than the current systems it won’t work with shoppers – they’re not engaged enough.” So, what will ultimately determine if digital receipts overcome the inertia of the status quo to gain prominence? It relies on whether retailers finally acknowledge the need for a streamlined, convenient consumer retail experience. Is that likely? What do you think?