Consumers transact from visual inspirations from within consumers visual fields (e.g. Instagram and Snapchat or Virtual Reality (VR) or Augmented Reality (AR), with loyalty programmes and marketing offerings delivered to consumers based on their buying patterns.
It helps retailers engage customers with contextual offers and digitalised loyalty programmes to increase purchasing frequency and customer retention, and offers consumers a convenient mobile wallet combining their favourite loyalty programmes, and receiving curated, personalised offers.
The SnapMe App product suite includes an acceptance API (application programming interface) for the integration of SnapMe into any e-commerce software (e.g. Magento, shopify, DemandWare, WooCommerce); the SnapMe Accept app for SMBs (small and medium sized businesses); a set of retailer tools including a dashboard and campaign manager powered by Instagram / Snapchat e-commerce solutions and profile information; and the SnapMe App Shopping Wallet consumer app available on iOS and Android.
From a retailer perspective SnapMe Wallet helps to engage and retain customers in a mobile-first environment, ultimately future-proofing their business. From a customers’ point of view SnapMe App is a convenient and reliable mobile wallet that combines payments, loyalty and personalised offers from their favourite retailers.
Since its launch SnapMe Wallet has been following a two-step market strategy to achieve scalability and rapid execution. In phase 1, SnapMe targets communities of highly engaged users on Instagram and Snapchat and in phase 2, after achieving an initial critical mass, SnapMe leverages this network to create a mobile marketplace for retail chains, brands and consumers to transact.
As of February 2017, the SnapMe app has been downloaded more than xx,000 times and has xx,000 registered users, xxx of which are monthly active users.
SnapMe Ltd business model assumes revenues will be generated from three streams: marketplace fees, a percentage of transaction value for transactions originated in-app; subscription fees, recurring monthly fees charged per outlet; and payment fees, a percentage of transaction value to pass-through cost of payment. Its revenue forecast is to achieve GBP100m in 2018 sales from Sneakers alone before expanding into adjacent markets.