What could PayPal possibly want withHoneys 17 million users?
But the answer is obvious: data.
But is it worth trading your personal data about your shopping habits for a coupon code?
Unfortunately, its not easy to give a definitive answer across the board.
They probably do both of the following:
First, they charge stores a commission for participating.
Youre just getting a slice of the larger rate.
Stores participate because they want to attract new and returning customers.
But once youre hooked, youre likely toreturn to that brand, even when there isnt a sale.
Second, they use your shopping data to help retailers understand your shopping habits.
Honey, for instance, has a history of transparency about how it does this.
Maybe thats a trend report about how a certain age demographic shops online.
And the same goes for every credit card and store loyalty program out there.
Companies want your purchasing dollars, yes.
But they also want insight into your spending habits.
Your privacy doesnt exist anymore, as far as I can tell, said Brasler said.
In fact, walk into a brick and mortar store and use cash.
Maybe its worth it to trade some of your information for a discount.
What is privacy in 2019, anyway?
If youve given up on having secrets, thats fine.
But dont get lazy about it, because it could cost you your dataandyour money.
All of these different [services] are basically spending traps, Brasler said.
Theyre designed to get you to spend more.
Retailers wouldnt be paying out commissions unless theyve found that it helps them somehow.
See a coupon for a brand-name item?
The store brand may still be cheaper, even after that discount.
