How SEQR Turns All Media Into A Third Retail Sales Channel

Today, trade consists of two sales channels: physical stores and online.But what mobile wallet SEQR, provided by Seamless, sets out to do with Shop Spot is provide create a third sales channel — from every type of media. The feature targets merchants, brands and media, and allows consumers to make purchases directly from that media, a space that represents a “bigger point of contact towards consumers than physical stores and e-commerce together,” says SEQR CEO Peter Fredell. PYMNTS recently caught up with Fredell to get the scoop on how Shop Spot works, why it will have a huge impact on revenue models and how merchants and consumers are responding to this “revolutionary” type of commerce.

Today, trade consists of two sales channels: physical stores and online. But what if there was a way to create a third sales channel – from every type of media?

Mobile wallet SEQR, provided by Seamless of Sweden, recently introduced Shop Spot, a feature that allows consumers to make purchases directly from media with a QR code, after which the consumer authorizes the purchase with a PIN and the product is shipped to a specified address. The feature, says SEQR, is targeted at merchants, brands and media, all the while “completely revolutionizing the shopping experience for the consumer.”

The creation of a third channel is also making a lot more possible at the POS, says SEQR. SEQR CEO Peter Fredell said that merchants and brands could now meet the consumer wherever he or she is located.

“Media represents a bigger point of contact towards consumers than physical shops and e-commerce together,” said Fredell, who added that media turning into a direct sales channel will have a huge impact on its revenue models, and “increase the conversion rate from ad to actual purchase.”

Shop Spot also lets advertisers and merchants quickly get data on where and when consumers shop, says SEQR. That data can be used to adapt their messaging, channels and platforms for sales campaigns.

In a recent interview, PYMNTS sat down with Fredell to get the scoop on how Shop Spot works, and how merchants and consumers are responding to this “revolutionary” type of commerce.


SEQR recently introduced Shop Spot, a new feature that turns every media into a sales channel. How does this technology work and what types of media is it being used on?

PF: Shop spot allows the customer to make purchases without entering an online or physical store. Simply by scanning a QR code in an ad, confirming their delivery address and entering their PIN codes, the order will be placed and the product is sent on its way. Currently, we use this functionality in print, DM, social media and as display ads, but it would work just as well through other channels.


How are consumers responding to this new form of commerce and what industries are finding the highest adoption rate?

PF: Given that it’s a completely new behavior for consumers, we’re satisfied with the outcome of the first few months’ trial. Adoption rate between different industries is more or less the same. So far, we’ve had a broad range of consumer goods – fast moving, beauty, books, durables and services – and see good sales figures within each category.


What type of consumer data is this solution capturing, and are you able to adapt the messaging based on the user’s past purchases?

PF: The data it’s capturing includes email, transaction details and user profile data. We will be able to adapt messaging based on past purchases.


What feedback have you received from your initial beta testers and what tangible benefits can merchants expect in the future?

PF: The feedback has been positive and we’re focusing on adding more variables to the system – that includes colors, sizes, amount, and add-ons. Merchants can expect to open up a new sales channel through printed, digital and OOH medias. That’s especially interesting when it comes to traditional channels, where you normally have difficulties measuring the ROI – for example, a print ad, DM or a shopping window after closing hours.


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Peter Fredell
Chief Executive Officer at Seamless

Peter Fredell was one of the first employees at OMX, then named OM, when the Swedish Option Market started its operations in 1985. After that he held various senior positions in trading derivatives in the Swedish market. In 1987 he joined Bank Leu, then the largest private bank in Switzerland, as chief trader for derivatives. Subsequently he got hired at Bankers Trust as head over their French equity and derivatives trading. After this he was promoted to head all markets in Europe other than France, Germany, and the U.K.

In 1992, Fredell left Bankers Trust to set up his own investment banking boutique, Fredell & Co. Fredell & Co quickly became one of the pre-eminent players in the European asset backed debt market. Another successful part of Fredell & Co. was their emerging markets operations with notable mandates in Russia, Lebanon, Georgia, the Czech republic and Hungary.

In the late ’90s, Fredell & Co. together with ABB, The Belgian Government (GIMV) and Bouwfonds (ABN-Amro) set up the Internet-based mortgage lender EuropeLoan S.A. Europeloan quickly established itself in five European countries and at its peak handled approximately 100,000 applications per month. In the beginning of the new century, Fredell acquired Europeloan Finance SA including all outstanding mortgages, about 3.5 billion SEK. In connection with this Fredell & Co. reshaped itself as an investment company. Since then Fredell & Co. has made various successful investments, and divestments, in the financial and technological space.

In 2006 Seamless did their IPO on the Swedish First North Stock exchange. Fredell was then one of the major investors. Over the years, Fredell has accumulated shares and is today the largest owner of Seamless. He joined the board of Seamless in 2009 and was appointed as CEO of the company in 2011.