BUSINESS MODEL

Strengths
Using the electronic receipt is more ethical and environmentally sustainable. According to an article
by (Varghese, 2018) UK retailers alone use 11.2 billion till receipt, which may sum up to £32m a year.
Furthermore, the same receipts are likely to contain Bisphenol-A (detailed in Appendix).

Ease of access has been another strength since a Statista report by (O’Dea, 2020) showed that from
2012-2020, 2.44 billion people acquired smartphones and is predicted to rise. In addition, (Statista,
2021) forecast that there will be 549 Wi-Fi spots in the UK by 2021 in comparison to 94 in 2016.

Weakness
At this point in time, consumer beliefs and behaviours are changing rapidly being able to leverage
this into forming a new way of living (purchasing)is vital (Charm et al, 2020). But relying on
consumers or markets need to change can be risky especially due to the lack of knowledge given.
consumers.

Opportunities
‘If you placed all receipts from restaurants in a line, they would wrap the world 3.44 times’
(TableYeti, 2020). Targeting smaller restaurants could allow for a slower change in consumer beliefs
and attitudes.

Threat
In a blog written by (Rosling, 2020) she provides a statistic that 1 in 7 new businesses fail due to cash
flow issues. This poses a threat to the electronic receipt as the strategy is to target small companies
in the early stages of the business cycle. Consequentially, they may not be able to support the cost in
the long run.

Political
Brexit caused increased uncertainty (Parington, 2019). Furthermore, implications could occur for
supermarkets as leaving the EU could make it difficult to afford imported products. Leading to an
increase in cost of imported products, which may sway consumers onto cheaper alternatives and
cause market changes to not want to have other changes to their systems till things change.

Economical
The economic downturn caused by COVID, as GDP fell by 9.9% in 2020 (Parington, 2021), has caused
companies to have to change and adapt campaigns. As a result, the companies may not be
susceptible to adopting more new ideas.

Social
Following and article by (Ellsmoor, 2019) a study stated that ‘77% of people wanted to live more
sustainably’. As society becomes more socially conscious the benefit of the electronic receipt is more
prevalent.

Technological
As the article from (Palandrani, 2020) suggests, the last decade and has been an age of disruption. As
a result, it may not take long for the eReceipt to become obsolete or for companies to develop
something similar.

Legal
Data Protection Act 2018 (Gov.Uk, n.d) would need the electronic receipt to spend more on
preventative measures to keep customers data secure.

Environmental
The UK government is promoting low emission by promising to outdo other economies by cutting
emissions by 68% (Harvey, 2020). This would be a positive factor influencing the business as
electronic receipt would support this goal.

Low High
Influence Influence
(Keep Informed) (Manage Closely)
High Interest Software Engineer Investor
Businesses we supply to
Competitors

(Regular Contact) (Anticipate and meet needs)

Low Interest Customer Suppliers
Communities
Media

Where can we purchase tablets in bulk?

Wholesale tablets offer business of buying specific tablets in large quantities.
https://wholesaletablets.com/who-we-are/
Accessories can be bought in bulk from Alibaba, or we can contact the seller directly.

Government Offers:

- Soft loan of £500-£25,000 are given at a fixed interest rate of 6%, along with free mentoring
for up to 12 months.
- Reduced income tax for investments up to £100,000, assuming business is younger than 24
months.
- Subsidising Equipment
https://www.wired.co.uk/article/receipt-recycling-uk-thermal-paper-digital-receipt

https://www.statista.com/statistics/330695/number-of-smartphone-users-worldwide/

https://www.statista.com/statistics/330695/number-of-smartphone-users-worldwide/

https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/understanding-
and-shaping-consumer-behavior-in-the-next-normal#

https://www.theguardian.com/business/2019/oct/25/brexit-uncertainty-drives-up-job-losses-and-
holds-back-economy

https://www.forbes.com/sites/jamesellsmoor/2019/07/23/77-of-people-want-to-learn-how-to-live-
more-sustainably/?sh=26c9d7872b01

https://www.theguardian.com/business/2021/feb/12/uk-avoided-double-dip-recession-despite-
covid-slump-in-2020-ons-gdp

https://www.globalxetfs.com/a-decade-of-change-how-tech-evolved-in-the-2010s-and-whats-in-
store-for-the-2020s/

https://www.gov.uk/data-protection

https://www.gov.uk/apply-start-up-loan

https://www.startuploans.co.uk/business-advice/get-small-business-government-grant/

https://smeloans.co.uk/blog/cash-flow-statistics-uk/

https://www.theguardian.com/environment/2020/dec/03/uk-vows-outdo-other-major-economies-
emissions-cuts-by-2030#:~:text=UK%20vows%20to%20outdo%20other%20economies%20with
%2068%25%20emissions%20cuts%20by%202030,-This%20article%20is&text=There%20will%20be
%20a%20reduction,target%20of%20about%2057%25%20reductions.