Capital One Retail Experience Prototype
For Marty Thaler's Product Design Workshop we worked with Capital One on new retail experiences. They were focused on new opportunities for private label cards. Our team conducted research on existing private label cards the the relationship people have with them. What we found was a toxic, guilt ridden relationship. Our goal was to change this relationship on how customers perceive value and use their cards.
After doing a collaborative brainstorming with our clients and class we found that negative perceptions were abundant and most concepts were about punishing and restraint. We wanted to go a different direction. We found that customers based their perception of value on the idea of dollars per wear. From indulgences to investments customers used the same rule.
Value = Dollars/Wear
With that concept in mind we created an interactive mirror with a platform for Neiman Marcus. We developed embedded smart tags, that helped create a digital closet. We talked to Neiman Marcus employees and found a need to know what their clients had in their closet. When a customer browses Neiman Marcus or comes in stores, the suggestions are based on what they already own. When items wear out and aren't worn anymore, it enables the associate to get them a replacement expediently. We wanted to create a stronger and healthier relationship between the consumer, brand, associate and their private label card.
When consumers were enabled to buy the things they actually need, knowing the value they will get out of the purchases they didn't feel guilty using their card. They were more interested in buying valuable, investment pieces than ill fitting or cheap items. These consumers wanted to feel amazing and to not spend mental or emotional work on picking out outfits, dressing appropriately, or being comfortable.
After our final presentation we were invited to present again at a Capital One internal meeting to share our final prototype and the concept of Dollars per Wear.
Team: Beth Schwindt, Ge Cao and Liz Jernegan