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Incentivize Apps

  • Last Updated:
  • Sep 4th, 2017 4:19 am
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Newbie
Sep 28, 2006
28 posts
23 upvotes
Markham

Incentivize Apps

Do you notice there is an influx of these incent apps that reward you with points and you collect towards something monetary? What's in it for them? They are "helping us save money or earn money"? The information they gain from us seems to be worth far more than they pay us.
6 replies
Deal Addict
User avatar
Sep 24, 2006
4627 posts
6132 upvotes
Toronto
DealAddiction wrote: Do you notice there is an influx of these incent apps that reward you with points and you collect towards something monetary? What's in it for them? They are "helping us save money or earn money"? The information they gain from us seems to be worth far more than they pay us.
The data they collect is sold to companies for huge amounts. For example, the apps where you scan your shopping receipts sell that data to the companies you buy items from and the stores you shop at. They're making bank off your free labour (scanning) and personal data.
Jr. Member
User avatar
Jan 3, 2014
174 posts
120 upvotes
Canada
The apps where you send receipts not only profit off what you buy, but they get paid money by certain products for every sale made. They're encouraging you to buy the product, since you might have bought an alternate brand or a cheaper brand.
Get your facts first, then you can distort them as you please.
Sr. Member
Dec 15, 2012
714 posts
393 upvotes
Toronto
how about websites that you watch videos and earn money/giftcards like swagbucks?
Newbie
Nov 21, 2014
79 posts
70 upvotes
Toronto
The recent surge of incentive apps are to be viewed as advertisement/marketing services. Companies set up contracts with retailers and brands for various forms of information. Apps are developed to ease usability which entices users to do it as they see it as a trivial task and in return they gain something monetary out of it. A quick example of how they profit would be that receipt app. That company collects data from receipts on users for : Stores shopped at, items bought, popularity of certain brands or items in geographical regions, cost variation by different retailors and by geographical area. They sell this back to retailors so they know what are hot items or brands to stock in their store for more customers to visit. Brands will know what to advertise more of and at which geographical location. Both can also adjust prices for hot items to increase their profits. Your receipts containing very valuable information about you. This information can be sold for millions and all you get in return is probably less than 1% of the money the data collectors receive in the form of gift cards. And those gift cards are probably sold to them at a discount also for buying in bulk. And the gift cards than force you to shop back at the certain brands they offer gift cards to, which you than submit your receipt in again. Its a really easy cycle for these companies to make money with very little effort other than the initial system setup to run a specific algorithm that sorts the data and compiles them for sale.
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Oct 21, 2015
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