On Our Radar: SnapUp

With so many new, exciting companies entering the digital advertising scene every day, it’s hard to keep track. That’s why we’ve created “On Our Radar,” a recurring column that highlights a company we’re watching, what it does, and why it should be on your radar, too.

Who are we talking about?

Price comparison app SnapUp.

What is so unique about them?

You are browsing your favorite retailer’s app or mobile optimized website on your phone and you come across an amazing pair of shoes. However, the price might be more than what you are willing to pay.  You could save the item to your wish list or try to search for a lower price elsewhere.  But now there is a better way! Simply install the SnapUp app on your phone and take a screenshot of the product you are viewing on your phone. The app automatically recognizes the product in your mobile screenshot and alerts you when the price drops for any item in your Snaps.  You can even create your holiday shopping list by simply swiping your snaps into categories.

Why should you care?

M-commerce is estimated to reach 19% of US retail ecommerce in 2014, according to a recent study from eMarketer. A retailer could integrate with price alert apps like SnapUp to provide consumers with protection against future price drops.

Who is their competition?

Other price comparison apps such as PriceJump from Savings.com and Flow from Amazon. However, PriceJump does not offer alerts of future price drops, and Flo can only be used to search for a product on Amazon.

What does their future look like?

The ability to seamlessly integrate with a consumer’s mobile shopping behavior without forcing users to stop and search for any item or scan a bar code or image makes SnapUp a valuable consumer ally. Of course, it’s possible they’ll get snapped up — no pun intended — by a major online retailer like Amazon and become a feature in their app.