This month our Innovation Corner blog post takes a look at Twurrl. Twurrl is a free app that helps you, and your friends, understand the real purchasing impact of your travel or foreign spending.
When you're out and about, you can use Twurrl to calculate the difference between the cost of an item purchased where you live versus in another country, and share and save your knowledge of those differences. For example, you would be able to compare the cost of a pair of Ugg boots in Euros versus the cost you would typically pay where you live.
The left side of the app display shows your home currency and the price you would pay for a specific product at home. The right side of the display provides information on two things:
a) The price of the same product in the currency of another country.
b) Whether the product is more or less costly in the other country.
Twurrl's mission is to help travelers assess and better manage their travel costs by providing the real purchasing value of products purchased abroad versus at home. Twurrl accomplishes this in three ways:
- Twurrl has powerful algorithms that calculate your "true" cost of items purchased when you travel.
- Twurrl has an extensive database of products and pricing globally and displays the results via city/country comparison pages on its mobile app and web site.
- Twurrl allows users to create accounts where it captures the customer's travel expenditures, identifies whether the expenditures were more or less than you would have spent for the same product at home, and attempts to subsidize any purchases made that were more expensive than they would have been if purchased at home through incentives such as reward points, offers and discounts.