The retail industry is shifting from paper receipts to digital formats, anticipated to grow to $293bn by 2030. This shift is influenced by rising retail app usage and e-commerce growth. Brands like Beyond Retro and Longchamp report benefits in customer experience and reduced waste. France's Anti-Waste and Circular Economy law supports this trend by banning automatic paper receipts, promoting sustainability. Experts believe digital receipts can enhance consumer engagement and offset high customer acquisition costs, focusing on improving relationships with existing customers.
According to market research business IndustryARC, the digital receipts market will be worth $293bn by 2030, growing at a 7.5% annual rate. Brands like Beyond Retro and Longchamp are transitioning from paper to digital receipts.
Retail shopping apps and e-commerce are driving the shift to digital receipts. This transition has benefits, including reduced paper waste and improved customer experiences, aiding in better consumer engagement.
Tash Grossman from Slip emphasizes that every retailer faces rising costs. Digital receipts allow brands to focus on existing customer relationships rather than expensive customer acquisition.
The French law banning automatic paper receipt printing supports a circular economy by reducing waste, reflecting the shift in retail towards more sustainable practices.
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