KEYWORDS
User Research. App Interface
TIMELINE
Nov 2022 - Jan 2023
BRIEF
ThinkTwice will keep all your impulsive purchases in check. You can track your expenses and maintain a budget with it. Most Importantly, the app will give you reminders of your balance before your payments to keep you in line and rethink your spending choices. To inculcate the habit of saving money and monitoring your expenditure.
PROBLEM STATEMENT
SOLUTION
Make them rethink their purchases logically rather than emotionally while shopping
RESEARCH
PSCHOLOGY BEHIND IMPULSIVE BUYING
Emotions play a very vital role in Impulsive spending, people often indulge in shopping sprees as a way to “let the steam off” and feel a little bit better about themselves. Certain emotions, such as sadness, loneliness, or even happiness, can trigger impulsive buying as people seek to enhance positive feelings or escape negative ones. High levels of stress can lead people to seek comfort and relief through shopping. Retail therapy, as it is sometimes called, is an attempt to alleviate negative emotions temporarily.
Attractive ads and pretty looking products also a major factor that influences impulsive buying. Ikea's whole shop is built to encourage customers to browse every aisle and view every product, which in turn tempts them to purchase items they don't actually need. Shop operators advertise enormous discounts and flash eye-catching merchandise through their windows to get customers in. People are taken in by feelings of desire, excitement, and the notion of saving money, but instead wind up making unnecessary purchases.
Clothes and groceries are the most impulsively purchased category for women where as men are mostly impulsive buyers in the category of electronics.
Other Factors affecting impulsive buying
major insights
Competitive Analysis
I analyzed several popular financial apps designed for budget creation and tracking to overstand what is already out there and how I can learn form it and improve it.
INSIGHTS FROM Competitive analysis
survey and interviews
Interviews of 3 potential users was conducted with the objective to understand their mental model, needs and difficulties. With this objective in mind a set of questionnaire was prepared to guide me in the interview and also to build a survey form to collect quantitative data.
INSIGHTS
Interviews were conducted and survey forms were sent to people to collect data and obtain insights. This data is graphically represented in the charts below. The charts are based on questionnaires from 25 students aged 16 to 26.
Conclusion
44.4% buy things which they did not plan while shopping due to impulsive spending.
52.2% people regret their impulsive purchase later.
Most of them want to save Rs 4,000 - Rs 7,000 every month, but they end up saving less than Rs 1,000.
Majority of them consider themselves bad at controlling their impulsive purchases.
PERSONA
Creating a persona made it much easier to imagine the type of person I would be designing for. Laying down and understanding my target audiences' wants, desires and goals gave me a better base for further ideation
Target Auidence
This product caters to all individuals aiming to monitor their spending and minimize remorse from impetuous buys. The main demographic consists of 18 - 30 year olds, who are more prone to impulsive purchasing behaviors.
ideation
Taking into account the findings from both my primary and secondary investigations, I focused on these aspects during the ideation process.
Numerous users won't engage with the app if linking their bank account is required.
Regular reminders are essential to ensure users don't lose sight of their budget.
Encourage users to make rational purchasing decisions instead of emotional ones.
INFORMATION ARCHITECTURE
The goal of information architecture here was to make the app's flow intuitive, give constant feedbacks and reduce cognitive load in the app while still keeping in mind the three key objectives of usability, findability, and discoverability.
I went through the entire process, from listing to labelling to auditing, before settling on this app flow.
LOW-FIDELITY PROTOTYPE
Prioritized usability, intuitive element placement, and efficient user flow to enhance user experience. Also emphasized on clear communication of core functionalities and addition of success states wherever necessary.
The below Lofi-prototype is the final iteration which includes all the changes done after user testing.
USER TESTING
Utilizing the ultimate low-fidelity prototype, accomplished after consistent examination and conceptualizing, the initial prototype was developed to evaluate the app's usability. Several tasks and a questionnaire were devised to asses the user-friendliness and simplicity of the app.
Three primary tasks assigned during testing: Establish a new budget plan, Examine comprehensive insights of the week, and Input a new transaction.
INSIGHTS
uSER JOURNEY
The user journey shows how the app would help the user rethink his impulsive purchases at a store.
I have also tried to capture the emotions and pain points during this whole process in order to make the app better for the user.
UI GUIDELINES
Features
An complete overview at your fingertips.
With one glance see an overview of budget with your balance, expenditure and transactions in all category all in one place.
Insightful statistics on your expenditure.
Get access to insights, charts and suggestions on your expenditure. Even view your data according to days, weeks and months. Get a count of each and every expenditure.
Reminder before every payment.
Before you complete your payment on any purchase you will be shown the money left in your budget for that category to make you rethink and evaluate your purchasing needs.
Easily Customizable budget.
Make a budget that fits your needs with full freedom on categories, duration, cycle repetition dates and even name. You can even choose from our wide range of recommended budget plans to increase utilization
FUTURE PLANS FOR THE PROJECT
Evolving into a comprehensive payment app with precise transaction tracking and seamless payment data access.
Exploring partnerships with established payment apps for access to trusted transaction data, boosting our app's credibility as a budgeting tool.
Continuous user testing and feedback for refining the app, removing redundancies, and enhancing vital features.
Incorporating smart financial analytics and machine learning for personalized spending insights, budget guidance, and goal tracking.
Strengthening security with biometric and multi-factor authentication to boost user data protection and confidence.