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Square's second annual "Future of Commerce" report reveals a shift in retail, restaurant, and beauty industries towards omnichannel operations. Notably, 58% of restaurateurs are less concerned about survival compared to 92% last year, with 69% planning to continue online ordering post-COVID. Retailers report 58% of revenue from online sales, while 47% offer buy online, pick up in-store. The beauty sector sees a similar trend, with 96% of businesses selling retail products through various channels. The report emphasizes the importance of adapting to changing consumer behaviors for sustained growth.

Square Financial Services has launched the 21 Squared Grant Initiative, partnering with the Community Foundation of Utah to award microgrants of $2,100 to 21 Utah-based nonprofits. The initiative aims to support community development efforts, particularly for smaller organizations affected by the pandemic. Eligible nonprofits can apply until December 31, with recipients announced in January 2022. Areas of focus include small business development, affordable housing, reentry support, and financial wellness.

Square has released its Holiday Retail Report. This report forecasts stable holiday spending, with in-person shopping rising as consumers embrace physical stores.

Gift card purchases have surged by 43%, driven by supply chain concerns. Retail sales trends remain consistent with previous years, maintaining a median promotion of $10 off. Key findings include a 36% rise in toy demand and a 32% increase in home supply GPV. Square emphasizes the importance of creating seamless shopping experiences to foster customer loyalty.

Square has launched the Square Photo Studio app, enabling businesses to easily create professional-quality product images directly from their mobile devices.

This app syncs images with Square's item catalog or online store, enhancing customer experience. Recent data indicates that 94% of first orders by retail merchants included product images. The app is available globally, making it accessible to all sellers, thus boosting sales with minimal costs and effort.

Square has launched the Square Photo Studio app, allowing sellers to create high-quality product images using their mobile devices at no cost. This initiative aims to enhance online sales by providing easy-to-follow prompts and automated background isolation.

Recent Square data shows that 94% of first orders included product images, emphasizing the importance of visuals in e-commerce. The app is available globally and can help businesses save time and money in product photography.

TIDAL, a global music streaming service, announced significant updates aimed at enhancing user and artist experiences. These changes include the launch of a free tier exclusive to the US, alongside new paid options: TIDAL HiFi at $9.99/month and TIDAL HiFi Plus at $19.99/month. Notably, the HiFi Plus tier introduces direct-to-artist payments and fan-centered royalties, enhancing artist support. TIDAL has partnered with Square and other distributors to ensure rapid payments to artists. The service now boasts over 80 million songs in its catalog.

Square has launched its enhanced Square Marketing tool in Canada, aimed at helping businesses engage customers effectively during the busy holiday season. The tool allows for the creation, tracking, and management of email marketing campaigns in one place. In the U.S., data indicates a significant increase in coupon redemption rates, rising from 50% to 78%. Features include automated email sending, campaign performance tracking, and integration with other Square tools. While available for free until the end of November 2021, it will adopt a tiered pricing model afterward.

Square, Inc. (NYSE: SQ) has released its third-quarter 2021 financial results, now available on its Investor Relations website. A conference call will take place today at 2:00 p.m. Pacific time to discuss the results. The company focuses on empowering businesses and individuals within the economy through its various tools, including Square for sellers and Cash App for individuals. Square also operates TIDAL, a music and entertainment platform aimed at economic empowerment for artists.