We're developing a mobile App that allows users to digitize their physical receitps. By doing so, they gain two benefits: Firstly, they can compare the products in the receipt with other ones (price, sustainability and nutrition) and they also gain awareness of their spending.
We have a very first version of the App ready to launch this July 2020. After the launch we'll invest in online marketing to gain our first users and will start to talk with B2B partners.
For the first comparison, the price comparison, we're focusing on students and young families.
We'll launch the App first in Switzerland before expanding to the DACH region, Europe and later the world.
SOM: 1 million people (DACH region)
SAM: 13 million people (DACH region)
TAM: 48 million people (DACH region)
Problem or Opportunity
Most households have a specific budget for their groceries but don’t know where the money exactly disappears. Is it for meat, toiletries or beverages?
In addition to that, most households don’t know if they are overspending money on their groceries. They could get the same products at cheaper prices but there is no easy way to compare prices of offline products in a seamless and convenient way. Everyone, but especially students and young families belong to budget conscious people who often have a limited budget and no time to manually compare prices.
Solution (product or service)
Our solution is simple: We’re developing an App that helps you track on which products and product categories you spend most of your money.
By taking a picture of your receipt, the receipt will get digitized and your spendings will be recorded. The App will also show you for every product where to find it at a better rate. And if you don’t want to change your current vendor, the App can also show you product alternatives from your current store!
Comparis, toppreise.ch, vergleiche.ch
None of them provide any personalization nor any receipt scanning
Advantages or differentiators
We make product comparison way easier, our users don't have to search for their products but rather simply scan their receipt. Though, they can also search traditionally for products.
In addition to that, we're not simply just comparing products but also automatically keeping track of all scanned expenses.
We plan on launching a freemium model.
We expect following revenues.
2020: CHF 1'020'000
2021: CHF 1'700'000
2022: CHF 5'390'000
2023: CHF 8'900'000
2024: CHF 12'500'000
Freemium model, 8% conversion rate to paid users, CHF 2.00 as Cost-Per-Installation (CPI), 20% organic growth (only once per user)