Square Announces New Analytics For SellersBy: Chris Crum - August 21, 2014
Square announced the launch of Square Analytics as a new feature of Square Register. It’s integrated with the full Square Register suite, including Pickup, Invoices, and Appointments, which launched earlier this month.
The offering includes an Analytics homepage, which shows real-time data on business performance, such as most popular items and a comparison to others in the same industry. The Sales Trends feature gives sellers updates on an hourly, daily, and monthly basis. This data can be taken into consideration when stocking and doing inventory.
There’s also a Buyer Insights section to show customer information such as new vs. returning customers or customer frequency, recency, and average customer spend.
“Expensive annual fees, tedious set-up processes, and irrelevant, generalized reports have traditionally excluded small business owners from useful information available to larger merchants,” Square said. “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.”
We’ve been seeing quite a bit of news out of Square this week as it also announced a major expansion of its Square Capital program, with backing fro Victory Park Capital. Square also told Square Stand users it has them covered for the coming EMV migration.
Square is going to want to be as far ahead in the game as possible as it faces new competition from e-commerce giant Amazon.
Image via Square