If you thought the computer in your store was outdated, wait until you hear this. Your phone can now be your cash register.
For anyone stepping foot into an Apple store in the past couple of years, you’ve seen that they really don’t have a cash wrap anymore. That’s because any sales associated can ring you up and check you out. With their own proprietary software and reader, they swipe your card, enter your email, and off your go, product in hand and email in your inbox. It’s that simple.
A couple other companies have jumped on the card reader bandwagon, with Square from Twitter co-founder Jack Dorsey and Intuit’s GoPayment to name a couple. You can read more about mobile card readers for retailers in an article in Business Week.
More than a passing fad, mobile card readers are going to dramatically change how retailers do business to the tune of $11 billion this year and $55 billion by the year 2015 according to the article.
According to the article, GoPayment is offering the reader free to its 4 million small businesses who use Quickbooks and Square says they’re adding about 60,000 new merchants a month.
Beyond the cool factor, mobile readers tend to be less expensive than other credit card processors, making them an ideal way to reduce expenses and increase profits.
THE REAL WORLD RETAILING TAKEAWAYGet on board or get left behind because this train has absolutely left the station.
The rapid adoption of this technology means that your customers are getting used to a different level of service, one that causes store employees to engage with them, not the other way around. And that’s contrary to how many store run their business today.
Think of the adoption of the technology as enhanced customer service (ECS). And perhaps you’re the only one offering it in your category of retail. ECS means you engage with your customers, letting them know that you have great new technology that allow them to check out with any employee. ECS means you check back regularly to offer advice, help or anything else to fulfill the needs your customers may have. Apple stores this regularly. It’s not obnoxious, it’s refreshing. Refreshing to have someone actually engage and want to help.
And let’s not forget about the cool factor that this technology has. But not for long as more and more businesses adopt it.
The final reason to adopt it potential cost savings. Nearly every user and expert quotes cost-savings versus traditional credit card processors as reason enough to adopt the technology.
The great differentiator in retail today how current you are, and how you’re running ahead of the curve. Many people like shopping at stores that are innovators. Are you one of them?
How are you planning on adopting mobile checkout to your operations?
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photo courtesy flickr user gabediaz
