Businesses looking to keep consumers coming back by providing the most efficient customer experience will focus on receipt data, at least when financial institutions and fintechs have some say in it. There may be a need.
Look at the numbers
2023 PYMNTS Intelligence Survey “Meeting the need for item-level receipt data: Why data infrastructure is key to improving customer experience” comes from a survey of 351 executives representing financial institutions with more than $5 billion in assets and fintech companies with more than 1 million monthly active users. Explore the importance of incorporating data.
The results revealed that 46% of all businesses said that using receipt data could lead to a more efficient customer experience for transaction questions and disputes. Companies that are particularly likely to cite this benefit are those interested in using this data to customize loyalty and shopping benefits, as well as those interested in using the data to track spending behavior. This is a company.
Data in context
Effective use of receipt data can give businesses a competitive advantage by providing personalized loyalty programs and tailored shopping offers based on customer spending behavior. This customized approach helps you attract more customers and encourage repeat purchases.
“You can make it consumer profile Narrow down to very specific offers and deliver the right experience. ” Jason ScogginsSenior Director of Loyalty and CRM chipotle pepperhe told PYMNTS in a summer interview.
Additionally, receipt data provides valuable insights into customer behavior, preferences, and purchasing patterns. By incorporating inbound data into operations, companies can make informed decisions about inventory management, marketing strategies, and product offerings.
tori marpVice President of Loyalty and CRM container storetold PYMNTS in January: Item level data This serves as an important indicator, or signal, about where customers are interested in spending their money and, for The Container Store's purposes, the projects they are pursuing.
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