The idea for Fetch Rewards came from a UW-Madison student’s frustration with the number of rewards programs he was asked to join. Instead of downloading multiple apps, Wes Schroll just wanted one place where he could earn rewards points for his groceries and household items.
After a few years of development and 2 1/2 years in mobile app stores as Fetch Rewards, Schroll’s app surpassed a digital milestone in August — 1 million monthly active users.
More than 1 million people over the past month uploaded photos of store receipts to Fetch Rewards, which then scanned those receipts to identify the brands of items purchased. For each item purchased of a brand that is partnered with Fetch, the users accrue points that can be exchanged for various gift cards.
These aren’t just passing users either. About 85% of users who scan one receipt will go on to scan another, Fetch Rewards spokeswoman Allison Geyer said.
“It’s grown a lot faster than I think we expected,” Schroll said.
Partnered companies — such as Kraft Heinz, Unilever, MillerCoors and Kimberly-Clark — pay Fetch when purchases are logged for rewards, Schroll said. Brands benefit from partnering with Fetch by rewarding customer loyalty, whether their products are the cheapest on the shelf on any given day at any given store. Read the full story here.