What do companies do with my receipt data? 6 Things

Every time you snap a photo of your grocery bill, you’re handing over a treasure map of your personal habits.

But what do companies do with my receipt data once they have it?

While you’re earning a few cents in rewards, corporations are using that information to predict your next purchase before you even know you want it.

Understanding this exchange is the key to mastering the modern rewards game without being the product yourself.

• To find Price Breakage
• What else do you purchase with products
• If ads work
• Supply Chain & Inventory Forecasting
• Demographic and Geographic Profiling
• Data Brokerage

Keep reading, and I’ll go over the 11 apps I use and what my results have been like since using these apps.

The Benefits of Scanning Grocery Receipts for Cash Back Rewards

It’s one of the easiest semi-passive ways to earn extra cash.

Sadly, I just learned about this, so I can’t imagine all the money I left on the table.

After going shopping, I take a photo of the receipt, and I get points, cash, gift cards, and rewards.

I’ve only been doing it for a month, and with just 1 person, I think it’s around $20-$24 I’ve gotten.

Now, some of the apps, I just started using.

Plus, some of these apps have levels, so the more you use them, the more points and rewards you get per level.

Regardless, any extra money helps, especially if they don’t require a lot of work.

It sounds too good to be true, but the companies use this information, so it helps them.

The Best Receipt Scanning Apps for Maximizing Passive Income

1 receipt can ONLY be used 1 time, but the good news is that 1 receipt can be used on multiple apps, so you get more money.

These are the platforms I use and recommend!

• Swagbucks
• Inboxdollars
• Ibotta
• Fetch
• Receiptpal
• ReceiptHog
• Merryfield (use code MOEXEC for 4,000 points)
• ReceiptJar (use code KEVIWKBVV )
• Coinout
• Frisbee
• Pogo (Use code VDVGV4 for 5,000 points)

Oh, and if you use those links, you get bonus points for yourself.

There is another app, NCP Mobile I signed up for, but it takes WAY more work.

I took a 5-minute questionnaire before starting, and then for each product, you have to manually enter prices and more.

I’m just not sure that the app is worth it. You may feel differently.

How Brands Use Receipt Data to Track Price Sensitivity and Discounts

These companies give you money for receipts to make more money for themselves.

They do this in many ways, and 1 is to find price breakage.

By looking at receipts, they know how much to raise a price before more people switch products. These pennies add up nationally and maybe globally for brands.

Companies can track if you purchase a product when it’s on sale or when you have a coupon.

If more people buy the product regardless, then the brand may issue fewer coupons.

Understanding Basket Analysis: What Else Do You Buy With Your Groceries?

Another wonderful way they can use receipts is to find pairing options

If lots of people purchase Huggies and Pepsi, they can run cross-promotions and move inventory in a store, so they sell them.

How Receipt Data Proves the ROI of Digital Advertising Campaigns

By looking at receipts, companies can know if ads and promotions they spend money on are working.

Receipts are hard data and are much better than surveys.

You’re starting to see that companies almost underpay for these receipts. But, we would be throwing them away anyway, so some money is better than nothing.

Using Real-Time Shopping Trends for Supply Chain and Inventory Forecasting

Brands can look at buying data from receipts to see what is working.

They can use this to prevent “out of stock” issues during times when they need to make more.

Also, if something isn’t selling, reduce supply.

How Retailers Use Your Location to Build Geographic and Demographic Profiles

By looking at receipts, a brand knows how a certain area is different than the country.

This can help them determine if an area needs more advertising or more of a product.

It helps them target locally instead of nationally with receipts.

The Role of Data Brokers: How Your Anonymized Receipt Data is Sold

The truth is, companies take grocery receipts and sell the data.

I’m ok with this. If you’re not, then you don’t have to sell your grocery receipts.

It’s similar to using Facebook, BUT receipts pay me, Facebook doesn’t.

When you use Facebook, the company harvests data and sells it to advertisers.

When you sell your receipts, many reward apps make money by selling versions of your data to brokers. They take this data from your web browsing and other sources and sell it.

This is why if you shop for a bike the next day, you will see ads for “bikes” because your browsing history is sold.

Maybe if you purchase lots of bikes on receipts and sell them, then maybe you will get more ads for bike parts as addons.

Legit Ways to Earn Extra Money From Home Besides Scanning Receipts

Honestly, grocery receipts are an amazingly easy way to earn a little extra money.

Another way that I’m a large fan of is affiliate marketing.

What I like about it is that you can do it anywhere in the world, anytime, around your schedule in nearly any niche, and it’s a lot of fun.

Plus, you can earn extra money.

I’ve been at it for 15 years, and I’m giving away free, easy cheat sheets on the system I use and recommend.

Affiliate marketing does take some time.

If you want something faster, then a work-from-home job might be better.

I used to do one where I contacted business owners and gave them a tax credit, and I was addicted to it.

Some can be great, and finding a good one is not easy.

Sadly, some work-from-home jobs are not legit, and they are bullshit.

Weeding through the bullshit and good opportunities is the hard part. The good news is this network manually vets every work-from-home job.

They even eliminate the 100% commission jobs (which I’m used to) if you want.

Plus, they even help you get the job, and they have a massive list. The bad news is it’s a subscription service.

BUT, you can always join, write down a few of your top choices, and then cancel during the free trial.

A third way is to purchase items that save you money.

Dryer balls sound dumb, but they work.

They save 15-25% on energy cost for drying clothes, which can add up, and all you do is put some balls in the dryer.

To save 25%, it’s best to use 6 balls and not put too many clothes in the dryer. I use them, and I notice a savings.

A clothing line is also amazing if the weather permits, and you can do it.

Closing: What do companies do with my receipt data?

I hope this might have been helpful.

I also hope you give grocery receipts a try. They really don’t take much time. I just did 1 an hour ago and found maybe $4 today (I had lots of brands on the receipt) and it took a few minutes.

The best news is that grocery receipts can stack with an app that gives you discounts on gas, groceries, fast food, and restaurants.

I wrote a post on exactly how this gas app works, plus 3 negatives with the app.

Have a great day.