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Square: The Future of Sale Transaction Technology

Tuesday, March 4th, 2014

In an ever-changing retail environment where brands and shoppers increasingly communicate via Tweets or status updates, shoppers can still find themselves trailed by obnoxious sales assistants when entering a brick-and-mortar store. While human interaction should be encouraged between retailers and shoppers, questions such as “How’s the weather outside?” or “Where is your necklace from?” are unnecessary. The generic welcoming process, of which shoppers are very aware, is artificial and often accompanied with a forced smile.

The often unsettling process of being approached by retail assistants with “ice-breaker” questions might interfere with a shopper’s in-store experience, dampening both the brick-and-mortar image and the shopper’s perception of the overall brand. Retailers should strive to formulate a holistic shopping experience, captivating the shopper’s attention in a personalized manner.

Imagine technology that could revolutionize both point of sale (POS) and the nature of customer service.

Enter Square.

Square’s Register and Wallet technology has been described as a “receipt in the form of an application.” The technology provides a basis to engage in the stages of selling, the physical exchange, while collecting data about the shopper.

Square has the ability to sell on the go, streamlining sales across multiple channels and collecting shoppers’ personal details, shopping habits, and previous store experiences. It, therefore, acts as an all-in-one business solution with the power to improve both customer experience and enterprise efficiency.

The emergence of Square technology crosses multiple boundaries, increasing the likelihood that brick-and-mortar stores will mirror the personalized nature of online experiences. Merging e-Commerce systems and traditional POS allows retailers to transact through a single application, while simultaneously collecting a wealth of customer information from across multiple shopping channels. Generating customer profiles enhances future incentive programs and continuity for the shopper when interacting with the brand, regardless of the location.

For example, imagine entering a store that uses Square technology. The in-store technology (Square Register) connects with your iPhone Square Wallet App and, as the shopper, you are recognized immediately and greeted by the retail assistant. The assistant has access to your past purchase history and the takes time to review your preferences, gaining a better understanding of your taste and favored price point. With access to such personal information, the retail assistant can then tailor your in-store experience, highlighting products of which you might be unaware or in which you might be interested.

Whether online or off, the value added to the shopper’s experience is instrumental in leaving a positive final impression of the brand with the customer. Experience is key for customer-centric brands, so why not use technology such as Square to customize shoppers’ experiences?

Today’s shoppers are sophisticated, with increased access to information, expecting novel, yet convenient, personalized services. Providing shoppers with continuity when purchasing across multiple channels can and will satisfy contemporary shoppers’ need for an easy, sincere, and tailor-made shopping experience. Square has the ability to serve as a key connector between modern-day consumer behavior and the retailer’s ability to gain relevant market research.

Contributed by Marie-Lauren Romano, Melbourne Integer office

Image Source: Wired

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