Area of focus:
Saving and Spending
Phase of development: Experimentation
Thinking about savings is often something that is compartmentalised – people are not interested in savings.
Our fieldwork revealed that about 40% of people do not have buffer savings. They are more focused on enjoying their current lifestyle and aren’t usually aware that it is a problem not to save – until circumstances change – and there is a need to dip into ‘savings’. These insights, combined with other revalations from our experiment designs, led us to focus our solution on “lifestyles”.
We are currently exploring different personas within the millenial demographic:
- someone who bears the recurring responsibility of organising and managing budgets for social group events
- someone who wants to save for a specific goal but does not know where/how to start
There is a gap in terms of tools that tap into people’s lifestyle behaviors to aid budgeting or saving.
Apart from testing different value propositions relating to traveling and organising social activities we are also exploring the possibility of tapping into interest groups where we match people with similar (interest related) goals anonymously and spur them on to achieve said goals by means of ‘competition’.
Opportunities to engage
We are keen to work with business units who might have a interest in the customer problems we’re exploring and have specific insights into ‘group savings’. Additionally, we are also looking for opportunities to tap into millennial communities, for our user experiments.
Connect with us via the links below:
Other Incubator Solutions