Every week, I buy a long list of items at the grocery store. The magical computer at the checkout counter automatically categorizes my purchases into produce, meats, consumer staples, etc., and I get an itemized, categorized receipt.
I use a Caraluzzi’s loyatly card to get discounts, so they have the ability to track my individual spending over time, down to the specific items I purchased.
I use a credit card to pay. Then Mint automatically pulls that credit card payment into my financial transactions and classifies it as groceries. I can see how we’re doing against our grocery budget right on my mobile phone, moments after leaving the store. It’s incredible.
But what I can’t do is analyze the specific individual purchases I’ve made. I can’t login to Caraluzzi’s website and see how much I’ve spent on cold cuts vs. prepared meals vs. ice cream. That annoys me. If Caraluzzi’s is collecting my data and using it to analyze my spending habits, shouldn’t I have access to it as well?
And what if I could do the same thing across all the stores I go to? It would be amazing to analyze the things I buy on an item by item level. The data geek in me would love it, but I could actually use that information to help save money.
I’m a big believer in matching up my values with my checkbook, and I can’t do that as much as I’d want to because no one has cracked that code. I’m not sure I’d pay much for the service, but certainly the data itself would be extremely valuable to marketers.
Does this exist? If not, why not?