Many apps make money from contracts with retailers and brands looking to spur purchases, reward loyal customers and learn shopping habits of specific demographic groups
When it comes to saving on groceries or trips to the mall, Nichole Schaubroeck is a pro.
Schaubroeck’s right about the apps collecting data, but where does the information go and who is really profiting from it? “Imagine presenting insights to Walmart and the data being six months ago from the U.S., they’d just get laughed out of the room.” Other brands want Caddle to land their products reviews. The receipt identifies when someone bought a target item, so Caddle can offer them money for writing a review.
It’s a “misconception,” he added, that companies like his collect data and pass it along to clients with people’s names and other identifiable details. Bob Fay, the managing director of digital economy at the Centre for International Governance Innovation, reviewed several money saving apps, but refused to sign up for any because the information they collect is “very invasive.”
The Toronto-based company found 70 per cent of members it recently surveyed weren’t bothered by the sale of their data, 23 per cent were “slightly bothered.” Only the final two per cent were bothered.
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