Loyalty cards and special offer coupons have paved the way for enhanced customer loyalty in the retail environment, but stores now understand that in an increasingly competitive market, more need to be done to attract and retain customers. Therefore, retailers and brands should harness the power of the latest developments in retail technology if they are to better understand their customers, says leading technology firm Synqera.

According to Synqera, developers of the multi-media payment terminal SIMPLATE, customer insight is a powerful force for retailers to use to their advantage. Engaging with customers to find out even more about their personal preferences and needs will mean brands can meet these needs, giving the customer no reason to look elsewhere in a crowded and competitive sector.

Kirill Gorynya, CEO from Synqera, explains: “The developments in loyalty schemes has seen retailers and brands benefit considerably. However, customers have become used to these schemes, and with many stores offering them, there is often no need to be loyal to just one store or brand. Therefore the high street needs to develop and use a more sophisticated approach to customer retention.

“The latest developments in retail technology allow them to do just that. The use of devices utilising many functions can draw customers in. This is not just because it’s something new, but because they combine the best elements of customer engagement programmes such as loyalty programmes and payment innovations such as contactless payment, and use them alongside initiatives such as bespoke offers tailored to that person at that particular time. They also offer an opportunity for brands to enhance their in-store advertising by providing an additional channel to target consumers.

“The latest technology allows all of this functionality on one platform, making it easier for retailers to adopt and easy for customers to engage. Engagement is the key to customer insight and anything that facilitates that should be embraced.”

Synqera’s SIMPLATE is used at the cash desk, and uses real-time data to target the customer at this crucial time. It can also be integrated with the retailer's current infrastructure to enhance the existing loyalty schemes. The device allows retailers to improve on offers and incentives they are running in-store and make them more bespoke to each customer by collecting customer data. The retailer can also benefit from additional revenue streams facilitated by the availability of the advertising platform for brands and partners.

SIMPLATE features a touch screen, a camera capable of verifying the gender of the customer, microphone, and NFC payment function for contactless transactions.

For further information about Synqera and the SIMPLATE platform, visit www.synqera.com.