BasketShare

 

Name: Daniel Walker

NYU affiliation: Stern

NYU status: Alumni

Did you enter last year?: No

Do you have any teammates?: No

How many, including yourself?:

 

Concept Name

BasketShare

 

High Concept Statement

We make it easy to consolidate shopping tasks with friends and neighbors.
We’re Instacart for the sharing economy.

 

Status Quo

How often have you forgotten that one item on your grocery list? Or you’re about to run out of toothpaste but the delivery fees match the cost of the product? For one item, going to the store doesn’t seem worth the effort, and Amazon wants you to order a 12-pack.

 

Competition

Instacart, Postmates and others allow users to buy products from local retailers and have them delivered, saving the customer time and effort.  Customers order products from local businesses online/in-app via a centralized portal and the companies coordinate a delivery at a scheduled time. These services have delivery fees, subscription fees, additional product markups, and/or minimum order quantities.  

 

Solution

BasketShare is an iOS app that offers no fee purchases from local businesses by leveraging actions already taken by friends, family, and neighbors in our personal networks.  It works by creating a community incentivized to share extra space in physical shopping carts combined with real-time shopping notifications.

 

Revenue Model

We will make money two ways: 1) charging local businesses to have their stores geotagged in the app.  This will allow app users that enter a store to automatically trigger a shopping notification to friends, should they wish.  If these friends need items from the store, they can make a request for the friend to pick it up for them, and thus generate additional revenue for the local business.  And 2) by in-app purchasing of additional request credits, the in-app currency that allows users to ask a friend to pick up a product for them while in a store (users will be allocated free credits up to a limit and can also be rewarded additional credits by completing product requests of others).  

 

Which platform would you like to launch your app on?

iPhone

 

Which category best describes your app?

Shopping