But now that it already has more than 97,000 downloads on Android, the company is targeting the operating system of the Apple handhelds.
“iOS has always been in the list but it took a couple of months to develop and test it to make sure its in great shape before we launch it,” Snapcart cofounder and chief data officer Mayeth Condicion said during the launch on March 23 at Discovery Primea in Makati City. “[It] is a very big part of the Philippine market. It’s about 20% of smartphone users and so we need to cater to that big margin of market as well.”
She said iOS also requires approval before publishing an app, which takes about a month or two, unlike in Android where one can launch an app on Play Store anytime.
“We have a very clean and easy app and it’s very simple,” she said, adding that they have been receiving positive reviews from their users. “We want to be able to have 5 times what our current data providers in the Philippines are able to create. So, we want to be able to have more than 50,000 active users by the end of the year. I think we’re very much on track to reach that.”
Whether Android or iOS, the mobile app gives users cashback incentives by simply taking a photo of receipts from groceries, pharmacies, and cosmetics. Users can cash out their points through phone credits, bank-to-bank transfers, and vouchers.
In return, the company uses the data gathered from users’ receipts in providing real-time shopper insights to their partner brands. Data from receipts that Snapcart gets are compiled onto the company’s cloud-based data platform, which then used to provide clients with reports on real-time offline consumer spending and shopping habits — an inherently difficult information to source.
Users are also given an interactive experience through an in-app bonus page within the app. They can accumulate coins by filling out surveys, watching videos, and taking selfies with their favorite products. The coins may be used to increase users’ chances of getting cash, and other interesting surprises like shopping vouchers from Snapcart’s partner brands in the in-app game called “Snaptastic.”
Founder and CEO Reynazan Royono, who was also present at the launch, said Snapcart was able to enjoy high user retention because it makes money rather than making the users spend.
“It’s a two way interaction — the snap and the cart. Ninety-nine percent of purchases is happening offline and groceries are still pretty much heavy. From the receipts, we don’t know what’s going on, but by pushing through surveys, we will know further,” he said.
Even though the company mines data generated by shoppers, Ms. Condicion clarified that Snapcart upholds the users’ privacy. Just like any market survey research, she said there is no point in time that Snapcart will share information with other users or clients.
“We have technology systems to restrict that. If you want to play longer in the market research business, it’s a strategy that you would have governance and data security as priorities,” she said.
As of date, Snapcart has four paying brand partners and about five more in the pipeline. It is looking to extend its reach to electronic stores and gas stations, Ms. Condicion said.
“What we are looking at right now is the huge demand to expand because a lot of our clients are regional. This is a need and an interest for a lot of Southeast Asian countries,” she said. “We are now present in Indonesia and the Philippines, and the plan is to open one market in every 12-18 months.”
Globally, Snapcart has partnered up with over 75 brands of fast-moving consumer goods. For more information, visit www.snapcart.asia.