Tash Grossman, founder and CEO of Slip, discusses the transformation of digital receipts into valuable engagement tools for retailers. Tash was named in Forbes 30 Under 30 list in Retail & E-commerce earlier this year, and Slip works with leading omnichannel retailers including Skinny Dip, Bambinista and JD Sports.
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For most retailers, shopping receipts are seen as a necessity, not an opportunity to improve how they communicate with customers. Most retail transactions take place in store yet the value proposition around receipts is often poorly communicated; shoppers are asked for an email address with little promised in return.
Slip is changing that dynamic, by focusing on how brands can better utilise digital receipts to improve customer engagement, drive smarter personalisation and use receipts as a marketing channel.
Tash shares her journey from management consulting to founding Slip, discussing the importance of learning from mistakes and the challenges of integrating technology in retail. The podcast highlights the significance of digital receipts in boosting marketing opt-in rates, enhancing customer experience, supporting loyalty programs, and the potential for cross-promoting key products and services such as subscription. The conversation also touches on overcoming barriers in retail technology and the future of retail media.
Key takeaways:
- Digital receipts can enhance post-purchase engagement.
- Retailers should prioritise the value of receipts.
- Customer acquisition costs are rising, making retention crucial.
- Opt-in rates can be significantly increased with self-service data entry.
- Loyalty programs can be enriched through personalised digital receipts.
- Subscriptions via digital receipts present a new revenue opportunity for retailers.
- Retail media can be monetised through digital receipts.
- Integration with existing systems can be quick and efficient.
Chapters:
- [00:40] Transforming Shopping Receipts
- [03:25] The Journey to Founding Slip
- [07:20] Learning from Mistakes as a Founder
- [11:20] Retailers and the Value of Receipts
- [16:35] Overcoming Retail Barriers
- [21:00] Enhancing Customer Engagement
- [26:30] Leveraging Loyalty Programs
- [31:19] Exploring Subscription Opportunities
- [35:30] The Future of Retail Media
- [37:15] Integration and Implementation Challenges
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