Clutch-Me.Com

Learn. Make. Sell. All about clutches.

Big changes coming for consumers and retailers…

I swear Jack Dorsey doesn’t need the additional press, but I just love where he and the team at Square are headed.  It’s going to revolutionize the transactions between retailers and consumers.

Over a year ago, I blogged about how you can easily and without any upfront costs accept credit cards via SquareUp.  Read this post to refresh.  I further expanded on that with crucial business tips for you at this post.  I then updated you with SquareUp’s changes allowing you to accept more than $500/month.  (This was my sticking point.)

So now comes an industry changer.  Square is coming to replace registers nationwide.  (Click on image to get to full article.)

This will change customer's expectations, and therefore, behaviors.

Why does this matter to you?  Because:

1. The majority of merchants in the US will buy and use a tablet or a mobile Point of Service device.  This means you, the consumer will start to see this in stores like bookstores, coffee shops, boutiques, bridal salons, nail salons and the like.  You, the consumer will become acquainted and trust this new way of paying for your goods and services.  The old register will be seen as antiquated because of the ease and flexibility of a mobile point of service device.  It’s like that kitchen phone that hung on the wall with the spiral cord that always got twisted and you had to untwist it (that was kinda fun, though).  It was the central location to make your calls but you were tethered to it.  Even house phones of today are cordless.  We wouldn’t even think of buying a phone with a cord.  Not sure if they sell them anymore….   If you have been to an Apple(R) store lately, you will see that they use a mobile POS.  It’s really amazing how easy and consumer-friendly it is.  You no longer feel like cattle at the trough.

2.  Because you, the consumer, don’t have to carry that amount of cash (who wants a Constanza wallet? 🙂 ) you can buy more knowing that merchant at the crafts fair will accept your credit card.  The average transaction is $75!!!  Research has shown that transactions are larger (ie people buy more) when they use a credit card vs. cash.  So a mobile POS device can also increase your dollars collected.

So because of Square coming into shops in this year to replace the register, you can expect that the adoption of the SquareUp device will ramp up quickly.  If you are showing your clutches at an Arts Fair or Craft Show, I highly recommend getting a SquareUp device.  It’s free, it’s easy and you start accepting credit cards with your mobile phone.  You will have an advantage over other sellers if you accept credit cards and they don’t.  What’s more?  You don’t have to shell thousands of dollars for the upkeep of those machines, buy ink, buy paper, etc…  You don’t have to spend anything to start accepting credit cards.

Good luck and if you’ve tried it, convo me and let me know how it has worked for you.  If you haven’t, then why not?

~Winn

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March 6, 2012 Posted by | Helpful Tips | , , , , , , , , , , | 9 Comments

Etsy founder Kalin

Grab this.  On newstands only.  It’s not yet online but well worth your reading!

The mercurial founder of Etsy. Brilliant, and looks like someone's kid brother, no?

Key points for me:

*In 2010, Etsy shops sold M$314 in merchandise.

*400,000 accounts on Etsy (not broken down between various selling and buying accounts).

*Fewer than 1000 sellers on Etsy make $30,000 or more.

*When Etsy expanded internationally, complaints about low-cost knock-offs increased.

*A top seller who at one point sold $96,000 one year went “back to the craft show circuit”.

*Etsy is great to get your business off the ground.

We all have different reasons and goals for our businesses and shops.  We all have different family and work and life constraints.  But I know we all want to do what we love and make money doing it.


…. After reading this insightful, though not entirely or thoroughly specific with its data, it just reinforces what I’ve advised you in my many previous posts:

*Sell your clutches off-line at craftshows, in-home hostess parties of your own, school functions, church fundraisers, arts festivals, local shop, and bridal boutiques.

*Be original and never copy.  Have a distinct style that is yours.

*Do not compete on price since you are selling a handmade good that is truly one-of-a-kind.  Do not under-value and under-price the worth of your goods ie. don’t give it away!

*Increase your chances of making a sale by taking advantage of the consumer behavior of “taste uncertainty” and band together with other clutch sellers.

Grab this issue.  Oh, if you’re in it and have a small business, you should subscribe to this magazine too! (No, I don’t get paid to say that.  Wish I did…)  🙂

April 1, 2011 Posted by | WhileBabyNaps General Updates | , , , , , | 3 Comments

   

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