Fetch Launches FAST: Consumer Data for Marketing Research
- Fetch, the popular rewards app, has unveiled FAST (Fetch AI Semantic Technology), a new platform designed to give brands adn marketers unprecedented access to consumer spending data.
- Instead of complex data analysis, marketers can simply ask questions like, "Show me sales revenue in the last three months." FAST then delivers clear, concise answers.further questioning -...
- Fetch founder and CEO Wes Schroll recognized the potential of his company's data as early as 2017.
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Fetch Launches FAST: AI-Powered Insights from $200 Billion in Consumer Spending
What is FAST?
Fetch, the popular rewards app, has unveiled FAST (Fetch AI Semantic Technology), a new platform designed to give brands adn marketers unprecedented access to consumer spending data. Leveraging OpenAI’s large language models, FAST allows users to query Fetch’s vast database – representing roughly $200 billion in annual sales receipts – using natural language, much like interacting with ChatGPT.
Instead of complex data analysis, marketers can simply ask questions like, “Show me sales revenue in the last three months.” FAST then delivers clear, concise answers.further questioning – “How do we compare to other retailers?” – unlocks deeper comparative analysis. The platform can even suggest marketing strategies, responding to prompts like, “Give me five ideas for a Fetch points offer to be more competitive.”
The Data Advantage: A Goldmine Realized
Fetch founder and CEO Wes Schroll recognized the potential of his company’s data as early as 2017. With an average user submitting 31 receipts per month, and 12.5 million active monthly users, Fetch captures nearly $200 billion in annual sales data. Though, unlocking the value of this data proved challenging untill the advent of large language models.
“Everyone always would say how valuable the data must be,” Schroll explained. “But data is inherently messy and organizing it back then was tough. It wasn’t until the development of large language models that Schroll had a breakthrough. “As we started to look at some of the evolving AI technologies,one of the things that they’re really good at is sitting on top of large sets of data and making them very approachable.”
| Metric | Value |
|---|---|
| Average Receipts Per User (Monthly) | 31 |
| Active Monthly Users | 12.5 Million |
| Annual Sales Data Captured | $200 Billion |
How FAST Works: Semantic Technology in Action
FAST’s core functionality relies on semantic technology, enabling it to understand the *meaning* behind natural language queries. This goes beyond simple keyword matching. For example, a query about “summer sales” won’t just return data containing those words; it will understand the context and identify relevant sales data from the summer months.
This capability is powered by OpenAI’s models, but crucially, FAST operates on Fetch’s proprietary dataset.This means the insights are grounded in real-world consumer spending, not just generalized market trends. The platform is designed to be accessible to users without a data science background,democratizing access to valuable market intelligence.