Project by:

Rowan Linehan

High Concept Statement: 

This is an app that would eliminate the waste of receipts. Receipts from grocery stores, or retail stores are annoying because they clutter pockets and handbags. In reality, they get lost or we hold onto them until we forgot that we even purchased that item. Often, when you actually want to check the amount spent, or need to return something, that specific receipt was lost. In this day and age, this shouldn’t be our reality. There is a better way. This would be an app that has a QR code-like capability that stores can scan. Your receipt will be sent to your phone and automatically stored by date and location/store name. This not only keeps you organized, it also saves paper, which saves money for companies and it saves the environment. We can have a wallet on our phones, so why can’t we efficiently store our receipts on our phones as well?

Platform:

iPhone

Category:

Business

Need or Demand:

I believe there are people who have a need to have a more organized life. I believe there is also always a demand for reducing business costs, while maintaining quality.

Product / Service / Solution:

I believe these needs can be fulfilled by providing an app that collects, stores, and organizes all receipts digitally on your phone.

Value Proposition:

The #1 value customers want to derive from this solution is maintaining a more organized collection of receipts so that if customers want to check their expenditures or return something, they can do so easily. Simultaneously, the #1 value for customers that would use the app instead of providing receipts at stores would be to save money as they will no longer need as much paper for receipts. Additional benefits include reducing waste and helping the environment by reducing the amount of paper used.

Competition:

The primary competition would be tradition. Businesses would still have to provide physical receipts for people who want them. If people are unwilling to change the way that they receive receipts, this app could face challenges. However, most people are already on their phones in line. If sales clerks suggest the app because the company has the technology to use it (and want to reduce paper costs), then customers may be intrigued to check out the app. The organizational benefit to customers would encourage them to continue to use the app. Additionally, the repetitive nature of sales clerks suggesting the app would force the idea of using the app into the minds of customers.

Revenue Model:

Businesses would have to purchase the technology to use the app, but it would cost less than the amount they would spend on paper receipts. Basic economics says that even if the cost of the app were $1 less than their receipt costs they should be inclined to buy it. Additionally, the app has the added benefit of providing businesses with their own digital record of sales, which could be useful for compiling quick data on whats sold most often, what’s popular, what certain customers prefer, etc.