Behavioural intelligence, footprints, and the consumption economy

Decoding Consumer Behavior: Receipts Technology Drives Sustainable Retail and Circular Economy

Ms. Thuraya Nasser Al-Mulla, Founder and CEO of Receipts Technology, presented on behavioral intelligence, the consumption economy, and the circular economy. She highlighted how their technology addresses critical data gaps in retail, enabling more informed decisions and fostering sustainable practices. This innovative approach aims to revolutionize how businesses understand and interact with consumers.

Receipts Technology’s three-month integration with Qatari merchants revealed a significant lack of SKU-level insights and detailed retail data, creating a gap between retail operations and banking institutions. To solve this, their technology provides SKU-level analytics, offering a deeper understanding of customer behavior. This granular data is crucial for effective market analysis.

Through their observations, Ms. Al-Mulla noted a 150% decrease in the retention rate among merchants, emphasizing the urgent need for better data-driven strategies. By integrating their API, Receipts Technology successfully analyzed customer behavior, providing actionable insights. This demonstrates the power of detailed data in addressing critical business challenges and improving performance.

Ms. Al-Mulla identified three key shifts transforming retail: behavioral intelligence, SKU-level analytics, and sustainable consumption. Receipts Technology is deeply committed to the circular economy, specifically targeting the reduction of carbon emissions from paper receipts. This focus underscores their dedication to environmental responsibility within the commerce sector.

The company’s pilot programs have yielded measurable environmental benefits. For each paper receipt avoided through their digital solution, approximately 0.02 carbon emissions are saved. This seemingly small per-receipt saving accumulates rapidly, contributing significantly to broader environmental conservation efforts and promoting a greener retail ecosystem.

In just three months, Receipts Technology processed around one million transactions. This extensive activity resulted in an impressive saving of approximately 20,000 carbon emissions. The company’s broader vision combines fintech with carbon-neutral retail, aiming to empower innovation and foster a comprehensive understanding of the circular economy.

Receipts Technology seeks to transform the Qatari Food & Beverage sector into a more carbon-neutral retail environment, setting a precedent for sustainable business practices. Ms. Al-Mulla concluded by stressing that every consumer’s footprint matters, as each digital receipt contributes to reducing carbon emissions, driving the retail industry towards a more sustainable future.