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How to Monetize Your Receipts To Drive Sales: Webinar Key Takeaways

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By Jim Dudlicek / NGA Director, Communications and External Affairs

Consumers have come to expect customization and personalization in their retail experience – products, deals and offers tailored just for them as a way to secure their loyalty to your banner.

For many independent community grocers, the technology to make this happen seems out of reach. But it’s not – and it’s hiding in plain sight.

Receipts are the one thing that every customer walks out of the store with but for the most part it’s being underutilized. Receipts can dramatically increase in value through the addition of relevant printed coupons for shoppers, while digital receipts can help lower costs while driving increased baskets and frequency through personalized offers.

NGA recently hosted a webinar, moderated by Tomas Diaz, CEO of FlexEngage, that explored how grocers can capitalize on digital demand, launch digital receipts, cut receipt expenses, learn how to monetize receipts and increase basket size and shopper frequency through targeted consumer offers. The panel of experts also included Eric Williams, former CIO of Catalina Marketing and Gary Hawkins, CEO of the Center for Advancing Retail & Technology (CART).

Here are some key takeaways from the discussion:

Engagement is essential, digital or otherwise. Communicating with customers is crucial to driving loyalty and sales. Hawkins noted a “dramatic increase” in digital engagement that accompanied the surge in online shopping driven by the pandemic. “But beyond just digital,” he added, “any customer engagement, be it digital, paper or people inside the store, is more important than ever.”

Receipts are a strategic communications tool. Since every consumer gets a receipt, there’s power in receipt marketing. And as more consumers embrace pickup or “click & collect” for their online shopping, “the use of a digital receipt becomes critical as a way to communicate,” Williams asserted. “The biggest value is the ability for one-to-one communication complementary to the things I care about.”

It doesn’t always have to be a coupon. Because receipts touch every consumer, Hawkins recommends leveraging that space for other messaging. “Maybe it’s a thank you to your very best customers. Maybe it’s introducing a new service or reminding shoppers you have an in-store dietitian,” he said, adding that what’s important is “delivering something relevant to that consumer or household.”

Success beyond redemption. Receipt-based offers often have high rates of redemption. But Williams cited data indicating that the rate of folks acknowledging they merely saw the offer is even higher, and that’s impactful as well – it proves that space is valuable for making that consumer connection.

Personalization is power. Today’s technology makes it possible for retailers to tap into their loyalty programs, allowing them to make consumer-specific offers. “Digital opens the door to a richer messaging vehicle,” Hawkins said. “Leveraging personalization can make this a powerful tool.”

To view this complete webinar and others in the series, visit https://nga.sclivelearningcenter.com/MVSite/default.aspx.

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