The Time Key makes saving money more simple and less tempting for consumers who lack impulse control.
Technology has brought upon changes in many common items, including something as traditional as the classic piggy bank. The Time Key functions as a technological piggy bank that allows consumers to save their money in a way that is more practical and effective than a simple box that must be smashed open in order for its contents to be accessed. The product can be set to a number of days for up to a year and will only unlock when that day has come. It has an accompanying app that will reveal funding goals, countdowns and a notification on the day the box unlocks.
The Time Key is the perfect money-saving device for people who prefer trackable ways of saving that requires no discipline on their part.
Timed Piggy Banks
'The Time Key' Was Designed to Open On a Specific Date
Trend Themes
1. Technological Piggy Banks - The Time Key is a disruptive innovation opportunity in the trend of using technology to transform traditional piggy banks into more practical and effective savings tools.
2. Trackable Savings - The Time Key taps into the trend of trackable savings, offering consumers a way to set goals, track progress, and receive notifications when their savings are accessible.
3. Behavioral Finance Tools - The Time Key represents a disruptive innovation opportunity in the trend of using behavioral finance tools to cater to consumers with impulse control issues by providing a time-based saving mechanism.
Industry Implications
1. Personal Finance - The Time Key presents a disruptive innovation opportunity within the personal finance industry, providing consumers with a new approach to saving money and achieving financial goals.
2. Fintech - The Time Key aligns with the fintech industry, offering a technologically advanced solution for managing personal finances and promoting better saving habits.
3. Retail and Consumer Goods - The Time Key opens up disruptive innovation opportunities within the retail and consumer goods industry by reinventing the traditional piggy bank concept and appealing to customers who value trackable and goal-oriented savings.