The SnapUp App is Made for Money Savvy Individuals
Meghan Young — July 3, 2014 — Tech
References: itunes.apple & fastcompany
Finding deals online has never been easier thanks to the SnapUp app. Made for mobile shoppers who are as money savvy as they are tech savvy, it is as easy to use as taking a snapshot of a good photo. Interestingly, the SnapUp app is not based on a social framework, which helps make getting to the deals even less competitive.
Recently launched with $600,000 in seed funding, the SnapUp app essentially "extracts relevant data, such as product name, photo, and price, from the [screenshot] image," reports Fast Company. Currently making money through affiliate links, the creators of SnapUp also use this avenue as a metric to gauge consumer engagement. Working with about 1,000 retail websites, including Amazon and Target, the SnapUp app will eventually expand on its information database for users.
Recently launched with $600,000 in seed funding, the SnapUp app essentially "extracts relevant data, such as product name, photo, and price, from the [screenshot] image," reports Fast Company. Currently making money through affiliate links, the creators of SnapUp also use this avenue as a metric to gauge consumer engagement. Working with about 1,000 retail websites, including Amazon and Target, the SnapUp app will eventually expand on its information database for users.
Trend Themes
1. Augmented Reality Shopping - Disruptive innovation opportunity: Developing an app that allows users to virtually try on clothes or view products in their own home before purchasing.
2. Personalized Product Recommendations - Disruptive innovation opportunity: Creating a platform that uses artificial intelligence to analyze user preferences and provide tailored product recommendations.
3. Mobile Shopping Optimization - Disruptive innovation opportunity: Designing an app that optimizes the mobile shopping experience, making it seamless, convenient, and user-friendly.
Industry Implications
1. E-commerce - Disruptive innovation opportunity: Integrating the SnapUp app's technology into existing e-commerce platforms to enhance the user experience and increase sales.
2. Retail - Disruptive innovation opportunity: Collaborating with the SnapUp app to offer exclusive deals and promotions, driving traffic to physical stores and online platforms.
3. Technology - Disruptive innovation opportunity: Developing advanced image recognition and data extraction technology to further improve the functionality and accuracy of shopping apps.
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