Retail Therapy
Topic/problem description:
The aim of this project is to examine the various ways in which individuals engage in Retail Therapy, and based on this data, determine how to design a product that can provide users with both emotional and financial benefits.
Solution:
My application endeavors to offer a solution by allowing users to proactively allocate a predetermined amount of money from their daily expenses into a virtual vault within an app. At the end of a year-long period, the vault “unlocks” and presents the total accumulated amount, serving as a reminder to users of the substantial sum they have saved. During this time users are encouraged to engage with the journaling feature of the app. In return the users will gain rewards in the form of discounts for certain products or virtual cosmetics. Through this approach, my app aims to recalibrate individuals’ perceptions of money by instilling a sense of delayed gratification and fostering a positive association with long-term savings, ultimately encouraging mindful financial management practices.
