Evaluating a Price Matching Service Concept for a Competitive Banking App
Key Takeaway
The study provided actionable insights on user preferences and barriers, guiding the client on how to refine and position price matching services effectively.
Client
A digital banking solution empowering users to manage their finances effectively.
Project Scope
Tested the appeal of a price matching service linked to a bank card to assess its potential for driving adoption.
Challenge
The client wanted to evaluate whether a price matching service could attract users to its card, despite potential barriers like setup effort or card exclusivity.
Approach
Online Survey: Conducted with over 100 respondents to explore awareness, usage, and perceived value of price-matching services.
Scenario Testing: Tested three scenarios—pre-purchase matching, post-purchase matching, and a dedicated price-matching bank card.
Barrier Analysis: Analyzed adoption barriers, focusing on convenience concerns and the effort required to use new accounts or cards.
Results
Found that nearly half of respondents were open to price matching services but were deterred by perceived inconvenience and exclusivity.
Identified pre-purchase matching as the most appealing option, with lower interest in post-purchase and card-based models.
