Reynazran Royono, CEO and Co-founder of Snapcart sees a wasted opportunity in every receipt you throw away after a shopping session.
“When I was working at Procter & Gamble, I learned the importance of focussing on your consumers, but lack of in-depth data and real-time knowledge proved to be a challenge in marketing,” said Royono at the launch of Snapcart in Jakarta today.
“Then later on, when I was working at [e-commerce startup] Berniaga.com, I learned about how Big Data can impact consumer behaviour positively,” he added.
Snapcart says it is the first mobile application in Indonesia that allows users to get cashback from every receipt that they upload into the app. Users get to see a list of promoted products before they take pictures of the receipt and submit it to Snapcart. After a verification process — that may take one-two days — the cash will be transferred directly into the users’ bank account.
The app also allows users to get extra points by filling out surveys and taking selfies with their purchases. It has seen 12,000 pre-launch downloads, according to an official statement.
“We also aim to answer the big question of ‘How can we implicate online capabilities to offline business?’” shared Royono, further elaborating that despite strong smartphone penetration, offline retail remains Indonesians’ favourite way to shop.
Happy consumers, happy brands
Snapcart’s cashback mechanism is being supported by brands, allowing them real-time access to consumer’s purchasing behaviour across the country. Through the receipts that it gathers from users, it analyses raw data and turns it into real-time insights.
“We built an ecosystem that processes thousands of shopping receipts, where AI (Artificial Intelligence) and Big Data play a key role. It enables us to understand consumers and their behaviour through collective information, something that could never be done before,” said Laith Abu Rakky, CTO and Co-founder of Snapcart.
At the moment, Snapcart has secured partnerships with mega brands Nestle and L’Oreal, with more famous local and international brands on the way.
“Snapcart is the app that allows us to influence shoppers,” said Ashley Amanna, Head of Digital Marketing, L’Oreal Indonesia. “It complements the data that we have gathered internally through another method … making it easier to reach out to consumers and study their buying behaviour,” Amanna elaborated.
Snapcart received its seed funding from Ardent Capital, the amount was undisclosed.
“Snapcart is the most promising Big Data business in Southeast Asia we’ve seen so far,” said Adrian Vanyl, CEO of Ardent Capital, adding, “It has a no-brainer consumer value proposition — buy stuff you already buy, get money back. And for brands, it is data they’ve fantasised about, but never had any practical way to actually collect; so this business wins on both fronts — consumers win, brands win.”
Snapcart is based in Jakarta with a team comprising 12 people.
Disclaimer: Ardent Capital, which is an investor in Snapcart, is also an investor in e27’s parent company Optimatic Pte Ltd.