Retail stores can benefit from this consumer trend by implementing the tech in their stores and to help their small businesses grow.
QR Codes are Sustainable Tech
Our Micro Receipts enable shoppers to reduce the paper footprint on their digital receipts by up to 80% with QR codes as a means of uploading receipts on to mobile devices to access mobile coupons.
The Cashless Interactive Consumer
Facebook’s new stealth entry into the Chinese app market even relies on QR codes of WeChat.
WeChat Pay has become so ubiquitous in China, it’s led to a cashless society of mobile natives.
It’s taken a bit long for QR codes to become popular again in the West, but increasingly more apps are seeing the new movement including Snap Inc., Amazon, Spotify, among others.
QR Codes and the Future of Payments
GenZ are the most mobile generation ever, and in a landmark study by the NRF and IBM, we understand their patterns better than ever.
QR codes help connect people and things in the IoT of retail better than another other tool. Amazon’s Futuristic store called AmazonGo enables remote check out via QR code sign-in to your Prime account.
Popular peer to peer (P2P) app Venmo now has a rewards program with Wells Fargo via QR codes.
According to PYNMTS, wholesale dominance in China along with a demonization movement in India, the biggest mobile payment markets of consumers in the world, signals that QR code dominance may spread globally.
As mobile payments options increase, options like Paypal are aggressively increasing their partnerships as cloud options proliferate such as Stripe and even E-commerce options such as Shopify have their own payment. It would not be surprising to see them too go down the QR code path to legitimate convenience and speed.
Benefits of Using QR codes In-Store
The benefits of using QR codes in-store could be as versatile as the apps they are paired with. However, the rise of RFID and QR codes with products in -store means the digital influence is more varied and offers more powerful retail and retailtainment experiences.
In the sharing economy such as seeing with Ofo and Mobike in the rise of bike-sharing giants in China, QR codes are again the major access point.
The benefits of QR codes for retail stores might include:
- Leveraging digital influence for a more customer-centric in-store experience
- Providing value-added education on products in showrooming
- Pair in-store appointments (with a solution like Booxi) with product information.
AUTOMATED PROMOTIONS & DISCOUNTS TO DRIVE TRAFFIC
- Pair in-store promos with an option such as PromoPRNT for discounted deals that reach every customer.
- To enable mobile payment in the fastest and most convenient way possible (e.g. WeChat Pay).
REDUCE WAIT TIMES, CHECKOUT QUEUES AND LINEUPS
- The way to by-pass lineups entirely is called showrooming, which is the opposite of BOPIS (buy online pick up in-store).
Here QR codes are presented on products where customers can scan “dynamic” QR codes and buy the items online and have them delivered to their homes or work offices. This completely bypasses the need for lineups, queues and traditional inventory management of online retailers where the store (sometimes just a pop-up location) is more for branding than for selling directly.