The payment point in a retail environment is an under-utilised opportunity to up-sell and cross-sell, according to leading technology company Synqera. It says that both retailers and brands could benefit from considering ways to capitalise upon this crucial step in the consumer journey, as apart from driving sales, it is an excellent moment to increase customer loyalty.
Major retailers have already been maximising sales and executing targeted campaigns as a result of their loyalty schemes. Big brands such as Tesco, which operates Clubcard, and Sainsbury's, which participates in the Nectar system, have used this to great effect. However, the latest innovations in retail technology now offer even more opportunities for retailers and brands.
Kirill Gorynya, CEO of Synqera explains: "Retail technology is constantly evolving and has grown significantly in popularity among retailers – but the latest developments aren't being used to their full potential. The latest devices act as the ideal vehicles to facilitate a multitude of functions, including up-selling with bespoke offers, cross-selling similar products or those of associated partner retailers, and enhancing a customer loyalty programme. Also, they present additional advertising channels for brands and provide payment innovations such as contactless payment. All of these functions can now be achieved on one platform – it's an exciting world out there!"
Synqera is a pioneer in this area, having recently launched SIMPLATE, a multi-media payment terminal that can be integrated with the retailer's current infrastructure and utillise real-time data to target the customer personally at the payment point.
SIMPLATE is able to collect customer feedback, allowing retailers to improve on offers and incentives they are running in-store, therefore enhancing loyalty through increased interaction. It also offers retailers the opportunity to create additional revenue streams with an advertising platform for brands and partners. SIMPLATE features a touch screen, a camera capable of verifying the gender of the customer, microphone, and near field communication (NFC) support, which allows retailers to establish real-time data analysis that can be integrated with their data to provide a more accurate customer profile, as well as offering an NFC payment function.
Kirill added: "Retailers wanting to stay one step ahead of the competition must look to innovative technology to engage their customers further if they are not to lose out to their counterparts. The technology is there, but it must be embraced."
For further information about Synqera and the SIMPLATE platform, visit www.synqera.com.