Square Releases “Growth of Mobile and Conversational Commerce Report” Alongside Advanced Features for Square Messages
28 Settembre 2022 - 5:00PM
Business Wire
Findings from Square and Wakefield Research
reveals that nearly 40% of businesses aren’t utilizing mobile
commerce technologies, despite vast benefits and increasing
consumer usage
Today, Square released its Growth of Mobile and Conversational
Commerce Report, revealing the opportunities and challenges
businesses face as they expand into new commerce channels. To
uncover these insights, Square surveyed consumers and business
owners across the U.S. on their behaviors and sentiments, both now
and in the future.
Mobile and conversational commerce, such as shopping experiences
that are powered on phones, continues to be on the rise among
consumers who increasingly expect convenient, seamless interactions
with the businesses they frequent — most often from their mobile
devices.
- Younger generations are most attuned to using phones to make
purchases, with Millennials and Gen Z more likely to prefer
texting with a business at 41% and 40% respectively.
- Nearly all consumers surveyed, 98%, want to connect with
businesses via their mobile devices, with appointment reminders
(66%) and order notifications (65%) being the most common
interactions.
- 30% of consumers expect to shop more through their mobile
devices over the next 12 months, with 38% of men expecting
to increase their mobile shopping compared to 27% of
women.
In response to consumers’ growing preference for these commerce
channels, 60% of business owners use mobile commerce to connect and
sell to consumers, and another 20% are interested in doing so.
Though some businesses are still learning how to navigate customer
demand for mobile commerce, those leaning in are seeing
returns.
- For the 97% of businesses using mobile commerce and reporting
noticeable benefits, 53% cite they’re better able to manage
customer relationships and 53% note they’re able to save
time by automating their business.
- Younger businesses are leading the way as those who have
been in business for less than 10 years, 68% are more likely to use
mobile commerce. Comparably, companies that have been in business
for 10 or more years are only 51% likely to use these
technologies.
“Sellers continue to need powerful software that enables them to
automate their business and meet the on-the-go needs of modern
consumers,” said Saumil Mehta, Head of Point of Sale and E-Commerce
at Square. “Mobile commerce technologies are a competitive
advantage for merchants to leverage in order to stand out from the
noise.”
With these findings in mind, Square continues to build advanced
features for mobile commerce tools like Square Marketing, which
offers SMS capabilities, and Square Messages, its conversational
commerce platform with smart, AI-enabled capabilities. Through
Square Messages, merchants are able to quickly and efficiently
communicate with customers in a new, professional channel so they
can better manage customer correspondences all in one place.
With more than 53M messages sent between sellers and buyers,
Square Messages has seen a 3X increase in active merchants using
the platform from the end of March 2021 to the end of August 2022.
Square Messages has also proven to be a tool that works for
merchants of any size and complexity as upmarket businesses
represent nearly 20% of the active seller base.
Today, Square is announcing that within Square Messages,
merchants have access to advanced AI messaging features. The first,
Suggested Replies, saves sellers time by suggesting responses to a
customer’s message, helping boost a buyer’s reply rate by 10%.
Square Messages also launched Suggested Actions, giving businesses
the ability to respond to buyers with one-click interactions, such
as a prompt to send an invoice or payment link. To further bring
customer correspondence into one place, which saves sellers time
and increases sales, Square Messages recently integrated with
social media platforms as well. Currently, 40% of inbound messages
from social platform integrations are commerce-related, like
inquiring about how to pick up an order or cost of services.
“Square Messages has become an essential part of our daily
operations. It allows us to quickly correspond with customers
regarding upcoming reservations, saving time and eliminating a lot
of back and forth,” said JC Cutlip, Financial and Technical
Services Director of Oasis Hot Tub Gardens, a multi-location
business in greater Michigan. “Fewer and fewer people want to
communicate verbally over the phone. Now, our staff can use Square
Messages to quickly get a hold of customers, especially those of a
demographic who prefer texting over a phone call.”
As Square Messages seamlessly integrates within Square’s
ecosystem, merchants benefit from both lead generation and offering
an exceptional customer experience by operating all within one
platform. Additionally, Square Messages has helped businesses
discover new tools within Square for a full suite of technology
solutions. For example, 65% of sellers that used payment links in
Square Messages were first time users of the feature.
For a full analysis of Square’s Growth of Mobile and
Conversational Commerce Report, you can view the desktop version
here and mobile version here.
Square Messages is free to use and currently available in the US
and Canada. To learn more about Square Messages, please visit
squareup.com/messages.
About Square
Square helps sellers more easily run and grow their businesses
with its integrated ecosystem of commerce solutions. Square offers
purpose-built software to run complex restaurant, retail, and
professional services operations, versatile e-commerce tools,
embedded financial services and banking products, buy now, pay
later functionality through Afterpay, staff management and payroll
capabilities, and much more – all of which work together to save
sellers time and effort. Millions of sellers across the globe trust
Square to power their business and help them thrive in the economy.
Square is part of Block, Inc. (NYSE: SQ), a global technology
company with a focus on financial services. For more information,
visit www.squareup.com.
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