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Carry the full assortment of Square products in-store

Status: Tell Us More
by gadgeteer on ‎03-20-2017 11:09 AM

Square revolutionized the idea of a mobile POS solution for the "everyday Joe" (or Jane) at a time when POS solutions usually costs well over the thousands of dollars. Since then, Paypal, Shopify, Clover, Intuit and Microsoft have all come out with competing solutions because the number of small businesses and startups is only increasing every year.

 

The issue for Best Buy is they only carry the Stands and/or the standalone chip/NFC readers.  If someone wants a complete solution, such as the cash drawers, barcode scanners, receipt printers, etc. You're sending that business online and to give you an idea, it's the difference between a $169.99 sale (for package with Stand & EMV/NFC reader) versus over $750 for the cash drawer, barcode scanner and receipt printer with the Square Stand.  

 

That being said, pricing for the component (Stand with NFC/EMV) that Best Buy DOES carry is the same, which rolls out the red carpet for someone to just go online and buy everything together from Square.  The other opportunity here is to create a bundle where if someone buys all the Square stuff and an iPad there's a savings. It doesn't have to be significant, but if you think about the revenue that would be generated just by a 10 or 15 percent increase in FULL solution purchases (all components plus iPad) from Best Buy that would be pretty substantial. 

 

The most requested accessories (for your reference) are the cash drawer, barcode scanner, (wired) printer -- because there is a bluetooth one as well and the receipt paper rolls. 

Status: Tell Us More

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Comments
by Senior Social Media Specialist Senior Social Media Specialist
on ‎03-20-2017 03:01 PM
Status changed to: Tell Us More

Would anyone else like us to carry these items? Make sure to vote for an idea if you like it.

by Trusted Contributor
on ‎03-20-2017 05:42 PM

I used PayPal as my credit card processor for my business. They sent me the card reader that plugs into my phone for free.

 

For the rest of those things you are talking about a very small market share of potential business. Floor space is at a premium and you don't use floor space to market something that is going to sell a very small amount of in a year.  

 

 

by gadgeteer
on ‎04-07-2017 01:08 PM

@bobberuchi to put the opportunity that Best Buy is missing into perspective: Last year, Squre mobile POS users processed $35.6B.  That's almost 2.5x Best Buy's market cap in transactions.  Transactions were up on average 50% every quarter for the year, meaning this hasnt even peaked yet and is still aggressively growing as more people discover Square solutions. Best Buy has a rather large opportunity to connect with a lot of startup businesses and grow their B2B revenues. Retail, Services and Health/Beauty businesses make up slightly over 1/2 of Square's merchants' transactions.  

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