How To Build An App Like Fetch Rewards?

Here’s Why YOU Should Build an App like Fetch!

Fetch is a popular loyal application that is all about rewards. Around May of 2022, the app was downloaded more than 1.3 million times in the United States alone.

In addition to this, this app was the most downloaded discount app in the U.S. in 2021, with over 13.5 million downloads total that year. As per Data.ai, the fetch reward app has 5 million daily active users.

This is a rather unique app with a unique concept and this is the reason why it leads the industry. And when it comes to revenue, well, well, the platform currently generates $84.4M per year in revenue.

It goes without saying that this has attracted a lot of businesses from across the United States of America looking for fintech app development services to create their own app like fetch rewards.

But how do you do it?

After all, mobile app development can be complex for various reasons. And it is a good idea to learn everything you can about it before you go into investing in it, right?

That is the reason why in this blog, we shall be discussing everything you need to know about building an app like Fetch Rewards. This includes the how does fetch rewards make money, its features, development process, cost, and so on.

Therefore, without further ado, let’s get right into it:

What is Fetch Rewards App? Loyalty App

The fetch rewards app is a platform that helps users to earn gift cards, cash back, and other deals while shopping at concerning retail stores. And it has been an inspiration from many reward app development projects.

It is often also termed as a loyalty app where all users need to do is shop as they usually do. While doing this, they can earn reward points. As such, 1000 points are worth $1.

Once the user has enough points they can redeem them in various ways. For instance, they can be redeemed in form of gift cards and e-money. It can also be donated. ( We shall be discussing the full working process in the next section of the blog. )

The platform itself was founded by Wes Schroll back in the year 2012. In its decade-long run, it has made quite a name for itself and has an active user base of 13 million strong. Plus, it has channeled $150 billion in retail sales for the partners.

As an excellent example of Hybrid App Development, it is available on both iOS App Store & Google Play Store. It is also one of the most downloaded apps on those platforms too.

With the revenue this platform has generated, there are a lot of businesses that want to clone it. Well, if you are one of these, let’s first look at the working of the platform and then move to the business model.

How Does Fetch Rewards Work?

So, how does this consumer-rewards app work?

The working process of this platform is quite easy. The user can shop at select stores and use their shopping to claim rewards.

Sounds amazing, right? Well, the user doesn’t have to do anything at all. And yes, all of it is true. With this being said, let’s look at the step-by-step working process of the platform.

It is, as mentioned below:

1. Download the app. Since it comes from both Android and iPhone App Development services, you can download it from either platform. Once it is downloaded on the app, it is time to move to the next section.
2. It is time to register on the platform. There are various ways to do it, via Google account, email, phone number, and so on.
3. Once on the platform, it is time to start redeeming reward points.
4. There are two ways a user can do it, but one thing that you need to make sure is, only shopping done at the partner store is eligible for reward points.
5. The user can link the Fetch rewards to their amazon account and get reward points on their shopping.
6. In the other option, if they have an e-receipt or a bill from a select store, they can scan it via the mobile app and get reward points.
7. The reward points are credited to the in-app wallet. And they can be redeemed in different ways.

This is how does fetch rewards work. Moving on, let’s look at the business model of this platform.

How Does Fetch Reward App Make Money? Fetch Rewards Business Model

Fetch rewards is an amazing cashback app that people absolutely love. And before you hire on demand app developers to create your own loyalty app, well, it is a good idea to learn more about the business model first.

The fetch Rewards platform follows a Commission based business model. Meaning it earns revenue based on the commission it gets from the partner.

After all, it doesn’t charge the customer anything and provides them with amazing cash back. In addition to this, the platform has also helped its partner generate more than 150 Billion USD in retail revenue on top of their usual sales.

Well, this makes one wonder, how does Fetch Reward App make money? well, let’s look at its revenue streams in detail below:

• Affiliate commission

So, the Fetch reward platform has partnered with some major companies which are known as select stores. And this is their main source of revenue.

Let’s look into this:

This is known as affiliate commission.

The companies affiliated with the platform or the partner pay Fetch in form of compensation whenever someone is buying their product.

This is how the revenue is generated; it forms a small percentage of revenue. The compensation here depends on the contract between Fetch and the partner brand.

Now, you might be wondering why these brands are paying to fetch rewards.

Well, there are many reasons.

• There are various ones that are exclusively marketed on Fetch.
• Brands get insight into user behavior and their product’s performance.
• Fetch Reward does pay promotions that result in higher sales.
• Repeated purchases lead to better brand awareness and customer loyalty.

This is one of the strategies that you should include in your app like fetch rewards. Now, before you go to on demand app developers and create an app, let’s look at the other revenue stream.

• Interchange fees

Did you know, Fetch Rewards launched its own Mastercard Debit Card? This is known as Fetch Pay.

It was launched back in the year 2020, this card allows users to earn reward points when paying via it. Now, this card works like any other debit card would and is accepted in the majority of the world like any other MasterCard.

However, if you know anything about cards and paying via them, you know that there’s an exchange fee.

It is something that is paid for by the seller. This is around 1% of the total amount. And this is yet another way in which the platform generates revenue.

Now that you know the fetch rewards business model and its monetization strategy, it’s time to look at some features of these.

Reward App Development Features

So, what are the features of this app, and why are they important?

As any On Demand App Development Company might tell you, features are the driving force behind a successful application. And it is only with the right features along with UI/UX that the platform will be to attract customers.

Therefore, in this section of the blog, we shall be looking at some of the top features of the platform.

These are some of the top features of the platform. Now, if you want to create a similar platform, you can include these features in addition to some unique ones of yours.

Other Popular Apps Like Fetch Reward

If you want to build an app like Fetch that helps you generate millions of dollars, it is a good idea to take inspiration from the best.

This is the reason why we shall be looking at some of the top apps like the Fetch Rewards app. these are, as mentioned below:

These are some Fetch-Reward Alternatives that you should look at.

With this out of the way, let’s look at the development process to create an app like Fetch.

How To Build Rewards App? Fetch Rewards App Development

How do you build rewards app?

The app development process spans different steps and it can be a bit confusing. In this section of the blog, we shall look at the development process. So, let’s see how to build a rewards app step by step.

1) Market Research

The first step is researching the market.

Look at the competitors, their strategies, user base, and market opening, and so on. All of this information comes fruitful later in the process.

2) Ideation

Once you are done with research, it is time to come up with an idea.

It is advised that you work with more than one idea. This way, you will have a plan to fall back to, in case one of them doesn’t work.

3) Cross-Check Idea

It is important to cross-check the idea before you move forward and hand it over to the app development company. If you want to build one of the sucessful apps like fetch rewards, this is one of the most important step.

4) Monetization

Here, it is time to monetize the application.

Now, if you want to build an app like fetch, you can also use their business model and monetization strategies. Or, you can just come up with your own unique ones.

Nevertheless, once all the preparation is done, it is time to choose an app development platform.

5) Choose App Development Platform

When it comes to mobile app development,

You can either go with native app development or cross-platform one.

First one gives you two options, i.e. iOS app development and android app development. While for hybrid app, you can go with react native app development services.

After this, it is time to finalize the tech stack.

6) Finalize Tech Stack

Tech stack refers to the technologies used for mobile app development.

MEAN Stack & MERN Stack are popular example of the same.

7) Hire Mobile App Developers

With all said and done, it is time to hire dedicated developers.

There are various ways that you can use do it, these are, as mentioned below:

• Hire Freelancer
• Outsource To Mobile App Development Company
• Hire Part Time Developers

Now, it’s finally time to start development.

8) UI/UX Designing Process

Development process can be divided into two parts. And the first part is, UI/UX Designing or front-end development.

Here, the team of developers and designers create the front-end.

9) Back-End Development Process

Back-end Fetch Rewards app development, it is here that source code of the product.

Maintain good communication with the development team during this process.

10) Testing

Following development, it is time to test the app.

QA team takes care of all the errors and bugs.

11) Deployment

Deployment depends on platform.

If you hire android app developers it is Google Play Store, and if it is iOS developers it is app store.

Cost To Build An App Like Fetch

It’s time we ask the real question, how much does it cost to build an app like Fetch Rewards?

Well, the mobile app development cost highly depends on the different factors involved in the projects. This factor ranges from client preferences, and business requirements, to the platform, tech stack, developers, and so on.

In simple words, it is not possible to predict the accurate cost of a fetch-like app without learning about project specifications. Nevertheless, you can expect the cost to be anywhere between $25,000 and $75,000.

Now, if you are someone who wants to learn more about the same, it is highly recommended that you consult a rewards app development company. They will be able to give you a closer estimation and more insight into the same.

Conclusion

There are a lot of businesses that want to build an app like the Fetch app. And the reasons behind it are clear.

If you are someone who wants to build apps just like fetch rewards or learn more about it, it is highly recommended that you consult a mobile app development company that will help you with it.

FAQ

Niketan Sharma

Niketan Sharma is the CTO of Nimble AppGenie, a prominent website and mobile app development company in the USA that is delivering excellence with a commitment to boosting business growth & maximizing customer satisfaction. He is a highly motivated individual who helps SMEs and startups grow in this dynamic market with the latest technology and innovation.