How to Trick People Into Saving Money
Inside Walmart’s curious, possibly ingenious effort to get customers to build up their savings accounts
Hasnain says:
"Young people didn’t buy them. Low-income adults did. The company started asking the people who called its service center why they were using the product, and the answer was usually that they didn’t have bank accounts. “That’s when I realized,” Streit says, “Wow, we’ve got the right product, but the wrong demographic.” The packaging was redesigned, and the renamed Green Dot started making new deals—including one with Walmart to create the MoneyCard, which debuted in 2007."
Posted on 2017-05-09T00:24:27+0000