Community Markets Leveraging Mobility for Increased Sales!

farmer’s markets. You know what I’m talking about – the white tents in public spaces on Saturday and Sundays, typically promoting local farmers, organic goods and artists. What I like about the individual merchants using payments systems such as Square is that I can more easily be a customer because I always have my debit card (but not always cash).

Sourcing this story was easy. I simply visited the Lynwood Community Market (https://www.facebook.com/pages/Lynwood-Community-Market/132884930222883?ref=stream) this past Sunday. By the third tent booth, I found an artist, Elena Wendelyn, (pictured at right) using the Square device attached to her iPhone to accept customer payments. Her business endeavor, Clay and Coffee (www.clayandcoffee.com), markets coffee and her art. We discussed the changing face of community markets and using technology to make more sales. It only makes sense for Wendelyn. Her art work had the appearance of being beyond the limited cash I carry in my wallet at any given time. And, like many, I’m an impulse buyer. So accepting credit and debit cards at an outdoor community market only makes sense.

Speaking of community markets, I also spoke with the founders (seen in the photo at right) of the Lynwood Community Market. The couple told me how its reason for being is to raise money to finance a local community playground on recently acquired parkland, the Schel Chelb Park. This noble not-for-profit cause can benefit from the increasing popularity of the Lynwood Community Market.

The market founders also told me that some customers return each weekend for organic vegetables, and the number of drive-by newbies is increasing over time. I asked if proximity of the market to the famous Chilly Hilly bike route and its weekend fleets of riders helps. They indicated it doesn’t hurt, however cycling and community markets tend to be two different experiences. That is, it’s hard for a competitive cyclist to carry artwork while riding!

Circling back to the technology story…here. How do telecom-based payment solutions such as Square impact the community market? I summarize it in three ways.

· Liquidity. I can buy more goods and services in a non-cash purchase transaction.

· More sales. Having an electronic payment option in the wild will increase overall sales and new customers explore the market.

· Increased deal size. “I’ll take two” is something I’ve already uttered because its easier to by two baked goods when it’s almost invisibly applied to my debit card versus my counting out cash and realizing and recognizing the true price of something.

Note that the Square has also been seen by yours truly at outdoor festival beer gardens (where you can truly utter I’ll have another) and “Taste Of” food festivals.