Cramer Quick Take: Deciphering QR Codes
Originally, these QR codes, short for quick response codes, were used in Japan in the early 1990's as a way to track the location of manufacturing parts.
Now, though, they're used as a form of advertising, where consumers can scan the code with an application on their smartphones, which will take them to a webpage containing more information on the given product.
Nicole noted that in 2012, more than 14 million people scanned a QR code, with that number only growing since then.
She added that companies such as Procter & Gamble
Ross said that it's a way for advertisers to reinvent the past with the codes. But this time, they leverage their outreach via technology, so consumers can scan something that interests them and check it out later from their mobile devices.
-- Written by Bret Kenwell in Petoskey, Mich.