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WalMart Receipt Scanner (No number)

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I liked this idea, not sure why it didn't make the list. Soon after I sent this, saw they did something like it - had a basket comparison of carts full of items from different stores (I am not taking credit for anything they did, other than when I worked for them in China). Someone is doing something like this, but not sure it is a receipt scan. Muse and those guys had something a little like this with ShopSavvy. With standard product names and UPCs this would be easy. Really curious as to the product price variation across same stores in different neighborhoods. Just went to Walmart Neighborhood Market tonight, usually much cheaper than others, but many times at Kroger and Tom Thumb they'll have deals that are even better.

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WalMart Receipt Scanner (No number)

  1. 1. November 2002 met and spoke with him on 11/16/02, he worked for safeway and albertsons and heb. said they don't have an external email, but he'll pass it to the pricing people in bentonville. said they will probably call me. ---------------------------------------- Glenn Johnson, 7-5PM Store Manager, South Irving (972)-313-0707 Dear Glenn, Instead of playing phone tag, which I find to be annoying, I was on my way to lunch down this way and figured I'd drop this off. See below. Jay Martin ---------------------------------------- Objective Create a draw for first time shoppers to emphasize the difference in prices between stores for the exact same items. Wal-Mart is in a unique position because the value of a first time visitor to its grocery section has the additional value of having its extra merchandise on which to spread out any cost of acquisition. So the question becomes, what new ways can we draw in people. How to attract them and get them to swtich - better selection, higher quality, lower prices (this is it), more convenient.... My idea focuses on the price contrast for like merchandise versus conventional grocery stores. The Idea Created a machine which can 'read' receipts from competitors, analyze the products purchased (either from the SKU number or even product description) and the price, then pass this information to a processing unit which can them perform a number of functions: Create a new receipt showing total cost at WalMart Emphasizing the difference in cost of the total purchase Breaking down item by item dollar & percentage difference Allow shopper to enter in more information to determine what their weekly, monthly or yearly savings are How to Get People in to Use It To provide incentive for people to bring their receipts in, you could have a variety of promotions, like 10 dollars off per household or better, we will give you the difference between our and their prices for first time only (that way only people with competitors receipts would be able to take advantage of this, and there would be little or no 'gaming' of the system. AND, you would be able to build a nice customer data base with preferences, like the people with reward cards do)
  2. 2. To be Created Machine to 'read' image of competitors receipts Programming to Analyze image to identify text Compare text to SKU inventory data Prepare analysis of comparison Create printed or on screen reports (the beauty of this machine is that you could make one, then take it around to different stores as a promotional and analyze its performance to see if it justifies mass production. Thought this is guerilla marketing, you could put a Wal-Mart truck or kiosk temporarily near competitors and get them as they are leaving their grocery stores. I'd expect your Counsel would need to think about this one) Challenges Develop/refine the marketing spin (easy) Machine to read receipts Image reading software Program to create the 'new' receipt Interface to print it out Tie-in to local prices at store I had some more thoughts, and also other ideas along these lines. No use writing them all up, I am very busy (doing follow-up work on my second patent, I am a poor inventor/former Strategy Consultancy veteran). Additional ideas and benefits include getting a huge influx of competitors price data courtesy of customers from all over the country, potential to have an 'input' via email of prices, images or even a fax where you can then send people a report and coupons. Tons of things that could be done. Also, I will 'give' any and all rights of this idea to Wal-Mart if they decide to proceed or even investiage. Just stipulate that they formally request a forfeiture from me, which I will be happy to sign (I still would like 'credit' from this, but don't expect to be paid, just want to see them do it). Also, as I said, I am poor and unemployed, if they want to do it and want a consultant to help, I am available. Thank and hope to get to speak with you. Jay Martin ------------------------------------------------------ First, I had not been in a Wal Mart for about 10 years, and just recently been going to the one by my home. Except for speciality stuff, I never expect to return to my local grocery stores. Your prices are beyond good, but that is not why I am writing.
  3. 3. My idea is for you to create a system which could take someone's receipt from another grocery store and use some sort of visual text identification to pick off the bar codes of the items, then plug in what they bought at your competitors and print out 'your receipt at Wal Mart would have been $Y, which is $X less than you paid' then also extrapolate for a family of Z what they'd save per month or year. Use this to drive first time traffic and lure people like myself over to your store to check it out. Like I said, I'll never go back. I have some more details on this idea in case anyone wants to talk to me about it. Thanks and also thanks for saving me a ton of cash! Jay Martin ---------------------------------------- Could expand this to mail in or fax or email in. Also, could have SKUs on your site to enter in themsevles, then get out a printed report and store locations. Need to think on the draw end, and also make sure there are no legal hassles