QR codes aren’t that common in the U.S. and Europe, but they are everywhere in Japan, China and other parts of Asia. QR code has become the trend and is widely used in different areas. The most frequent usage is in retail as it speeds up the entire payment process, enabling retailers to handle more payments in a given time. With QR code, a transaction can be completed in seconds through scan and pay.
India’s Paytm adopted QR-code services in October 2015. The service is used by more than 5 million merchants. This makes 65% of the Paytm transactions are made through QR-code payments. The usage of QR-code has touched skies after the demonetization period which took place in November 2016. Merchants of different industries subscribed to Paytm as it provides the e-wallet service that is extremely convenient. They no longer need to look for small change to their customers. Every transaction is just scan and pay any desired amounts. Now, even the roadside booksellers and stall that sells eggs adopt the QR code payment system. Paytm is expecting to cross half a billion accounts by 2020.
QR code can be used not only in-store but online. Have you ever come across QR codes when you shop online? I bet you have. It’s a very regular marketing strategy that most of the online shops are using nowadays. Some will put the QR codes on their websites to drive customers to download their mobile application for more convenient shopping on any mobile devices.
Some of the ways retailers use QR codes are to prompt new products, offer coupons, compare prices in other stores and allow direct online shopping. Not only a marketing tool but enhances customer service too. Some QR codes scanners are linked to the store inventory and can actually tell you the quantity, size and colour currently in stock of the product scanned. Every time you scan a product it is stored in your phones internal memory and in you QR app history. This allows the QR code app to recommend certain stores and products relating to your scanned history. If a particular style is scanned multiple times by the same consumer, most retails stores offer suggestions or recommendations related to that product.
Apart from that, QR codes are also being used for linking to videos, contact information, job support and social media. These are merely part of the applications of QR codes. There are still more to come in the near future. While we’ve yet to see any QR codes on tombstones, they can be used to check in at the funeral (much like Foursquare) and notify the family who was in attendance. Currently, most of the older generation doesn’t exactly know what they are, but once they are told about how the QR codes work, they will be amazed. Want to know more between the linkage of QR code and O2O? How these tools can help your business?
O2O Pro Management provides you the business consultation of O2O Marketing Strategies Planning & Consultation and Business Consultation that helps you leverage your current business.