Personal finance website Finder.com recently launched a programmable smart purse that is supposed to be able to help people overcome the desire to make impulse purchases.
The purse, known as the 'iBag2' uses robotics, IoT technology, LED lights and an RFID system to make sure that consumers are able to become more aware of their shopping impulses. The bag features several mechanisms to stop spending, including a timer that locks the bag at a shopper's "most vulnerable spending moments during the course of a day," lights and vibrating components that come to life when a wallet is removed from the bag and a GPS tracking system to remind consumers where they enter a shopping "danger zone."
The iBag2 was developed in response a report that claims the people of Britain owe more than £63.3 billion in credit card debt, which is up more than two billion from the numbers collected just last year.
Anti-Shopping Smart Purses
Finder.com's IoT 'iBag2' Curbs Impulse Shopping
Trend Themes
1. Anti-shopping Purses - The development of anti-shopping purses provides a disruptive innovation opportunity to curtail impulse buying and promote mindful spending habits.
2. Programmable Smart Purses - The rise of programmable smart purses enables consumers to overcome their shopping impulses by leveraging robotics, IoT technology, LED lights, RFID, and tracking systems.
3. Awareness Technology for Consumer Spending - The integration of awareness technology, such as timers, lights, vibrations, and GPS tracking, in purses revolutionizes how consumers manage their spending habits and cultivates financial mindfulness.
Industry Implications
1. Personal Finance - The personal finance industry can harness anti-shopping purses to offer innovative solutions for consumers to track and manage their spending effectively.
2. Fashion Accessories - The fashion accessories industry can capitalize on the emergence of programmable smart purses, combining style and functionality to meet the growing demand for conscious consumerism.
3. Iot and Wearable Technology - The IoT and wearable technology industry can explore the possibilities of integrating awareness technology into various wearable accessories, enhancing user experiences and promoting responsible shopping habits.