Square Announces Powerful Analytics to Help Sellers Make Better Business Decisions
TORONTO, ON–Aug 21, 2014–The world’s largest retailers employ armies of statisticians and analysts to help them increase sales. Today, Square levels the playing field for merchants of all sizes by adding Square Analytics to its complete register service. The powerful reporting and analytics tool delivers sellers actionable data to increase sales and better serve their customers. Square Analytics, along with products like Invoices, is part of Square’s robust point of sale service.
Expensive annual fees, tedious set-up processes and irrelevant, generalized reports have traditionally excluded small business owners from useful information available to larger merchants. Building on the sales data to which Square sellers already have access, the new mobile-optimized Square Analytics delivers information including most-popular items and categories, busiest time of day and a holistic view of customer spending.
“There’s no other tool out there that makes it this simple to see which suits are selling and what extra customizations our clients buy,” said Tomas Romita, Founder of MADE Clothing in Toronto. “The data provides more than just insight, it has led to increased profitability by helping us see what price categories make sense and comparing sales month over month so we know where we can improve.”
Square Analytics has a few key features.
The analytics homepage shows how a seller’s business is performing in real time, including which items are the most popular.
Sales trends provide updates of sales hourly, daily and monthly so sellers can consider later hours or stocking up on inventory to avoid missed sales.
Buyer insights show sellers useful customer information. Sellers can see new vs. returning customers as well as customer frequency, recency and average customer spend.
Square Analytics is available today in Canada, the U.S. and Japan.
Square helps anyone take care of their business. Square’s complete register service is a full point of sale with tools for every part of running a business, from accepting credit cards to tracking sales and inventory. Founded in 2009 and headquartered in San Francisco, Square is currently available in the United States, Canada and Japan. Square operates in Canada only through its wholly owned subsidiary, Square Canada Inc. More information is available at square.ca.