By connecting in-store data created when customers make purchases to retailers’ online resources, brands can build a better picture of who their customers are.
The high street may be suffering, but bricks-and-mortar retail stores still generate 90 per cent of total retail sales. More than 60pc of that total is influenced digitally, as shoppers do their research online, rely on product reviews and are influenced by digital advertising before they shop in-store, but the fact remains: shops still sell.
Even so, vast sums are spent on retail technology that focuses on that online segment, where customer identification, personalisation and complex ROI measurement for digital and social advertising are the norm.
One reason for this may be that it appears easier to gather useful data and make faster, smarter decisions online than in the real world. On the face of it, it is harder to connect digitally at scale with in-store shoppers, but as the figures show, the shoppers themselves do not distinguish between online, offline or anything in between, so why should retailers?
“80 – 90% of retail sales happen in the physical world, whereas 10 – 20% happen online.”
yReceipts, a UK-based technology company with a global client base, offers the answer for the stores’ conundrum. Founded in 2009, yReceipts works with retailers around the world, enabling them to link shoppers to their in-store transactions through digital purchase receipts that can be saved in any digital format ranging from email, SMS and messaging platforms to apps and more.
yReceipts has been designed with GDPR in mind and focuses on helping retailers and their partners to leverage the rich data that comes with every in-store purchase. The power lies in connecting the in-store data to the online resources and data ecosystems that retailers keep, from CRM to ratings and reviews solutions, marketing and advertising platforms or other technologies. By using yReceipts, retailers build a clearer picture of their customer base and improve customer experience, retention and acquisition.
“yReceipts is known in 35 countries to help retailers increase their customer visibility.”
The yReceipts technology has the potential to change the advertising industry fundamentally, connecting in-store sales and sold products in retail stores to digital adverts, campaigns and clicks, something which Alexander Kayser, chief executive and co-founder of yReceipts says could be “the holy grail” of advertising.
“I believe we have the chance here to ignite a fundamental change in areas such as in-store ROI measurement of digital advertising, making bricks-and-mortar data accessible to retail data ecosystems like never before and ultimately support the creation of better, more personalised shopping experiences,” he says.
For more information visit www.yreceipts.eu