Former Tesco chairman, Ian MacLaurin, claims electronic receipts are poised to have as big an impact on the retail industry as the loyalty card and is chairing a company, which is launching the technology in the UK.
Lord Maclaurin is chairman of eReceipts, whose technology will allow retailers to issue electronic receipts direct to customer accounts accessible via mobile phone, tablets or computers.
The technology is being trialled with retailers in West London this month for launch in September 2012. More than 20 businesses are reported to have signed up and eReceipts says partnerships have been created with the likes of IBM and the Wedge Card.
The Wedge Card is a social enterprise limited company set up in 2006 by John Bird, the founder of The Big Issue magazine. It is a London-centric loyalty card focused on helping boutique retailers and encouraging the diversity of London’s high streets.
According to eReceipts, its technology will not only make life simpler for consumers to store and log all their transactions but enable retailers to capture and harvest rich data about customers shopping habits.
Utilising the free eReceipts technology, retailers will be able to increase their footfall, increase their revenue and reduce their costs, the company claims.
Lord MacLaurin, eReceipts chairman, said: “eReceipts has the potential to have the biggest impact on retail since the introduction of loyalty cards. Retailers, consumers and businesses all benefit with retailers being able to utilise customer data to derive a new revenue stream, increase footfall and run their operations more efficiently.
“Combining the obvious benefits for retailers, consumers and businesses, with the simplicity of the eReceipts system, we will see the end of the paper receipt.”
Andrew Carroll, managing director at eReceipts, said: “Our research shows 90% of individuals would prefer to have receipts digitally stored in a cloud account rather than collecting paper receipts, while 50% of individuals would purposefully buy from a retailer who offered this service over a paper receipt issuer.”
The company claims eReceipts also brings great environmental benefits with the possible end to the needless manufacturing of billions of receipts each year.