A mobile app for receipt management and improved shopping experiences
- RETURN POLICYHave you ever gone to the store to return something and lost the receipt? Chances are that makes retailers more nervous than it makes you. In 2009 the National Retail Federation estimated that 1 in 13 returns were fraudulent, resulting in losses of up to $14.8b. How do you mitigate these losses while enhancing the customer’s experience?
- THERE’S AN APP FOR THATIntroducing a mobile app that assists consumers before, during, and after their shopping visits by facilitating shopping lists, offering budgeting tools, and finally recording receipts—all for free. Here’s the catch: shopping lists, budgets, and receipts are used to form analytics for consumer spending behavior.
- WIREFRAMES AND PAPER PROTOTYPESTo quickly capture the essential functions of the App, we sketched out the menu structures and information hierarchy. We kept the essential functions of the app displayed prominently in a tray menu at the bottom, with user account settings embedded in a slide down menu at the top. The app includes budgeting, shopping lists, and feedback options for shoppers to access on the go.
- FINANCIAL STATEMENTSFor the Vouch marketing plan, we included a break-even analysisalong with standard income statements, balance sheets, and cash flowstatements. The costs were estimated based on standard mobile appstartup costs plus additional promotion costs required to garner retailclients. We also addressed our target markets and SWOT analysis.
- PAPERLESS TRAILShopper’s and business travelers alike benefit from improved recordkeeping of electronic receipts. Additionally, retailers cut receiptpaper supply costs and promote an eco-friendly image. Analytics are purchased by major retailers, providing enhanced proximity-basedmetrics as well as operational safeguards against fraudulent returns.This business-to-business marketing plan requires a two-tier strategy appealing to both consumers and retailers alike.
Using QR codes to transmit unique receipt IDs, the vouch systemprovides an eco-friendly and cost effective alternative to paperreceipts. Unlike NFC transmitters which require expensiveinfrastructure changes, the vouch scanning system uses existing Pointof-Sale displays for minimal capital expenditures.