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Automatic Locking Bags

Automatic Locking Bags play_circle_filled

The iBag Saves You From Reckless Spending By Automatically Locking Itself

— February 4, 2014 — Lifestyle
It's easy to get carried away at the mall, but buying a few too many things and coming home to a drained bank account can be avoided with a nifty automatic locking bag.

A company based out of Australia called Credit Card Finder has created a concept to control excessive spending. The GPS-enabled purse can be programmed to automatically lock itself when it recognizes periods of high spending. The RFID module technology records every time you pull out your wallet, and the real-time clock is programmed to lock the bag during your most vulnerable-spending time of day. Every time you enter a dangerous zone or get close to your favorite shop, GPS controlled warning lights come on and and SMS is sent to your phone, reminding you that you're in a dangerous high spending zone.

The iBag prototype is soon to be the most desired bag on the market. The iBag will help you if you have a hard time trusting yourself at the mall, or just need a little reinforcement to save your money.
Trend Themes
1. Automatic Locking Bags - Disruptive innovation opportunity: Expand the application of automatic locking bags beyond personal finances to other areas where self-control and discipline are necessary, such as health and fitness.
2. Gps-enabled Purses - Disruptive innovation opportunity: Develop GPS-enabled bags that provide real-time location-based notifications for personalized experiences or targeted marketing opportunities.
3. RFID Module Technology - Disruptive innovation opportunity: Utilize RFID module technology in other products to track and record user behavior for improved insights and customized recommendations.
Industry Implications
1. Consumer Goods - Disruptive innovation opportunity: Introduce automatic locking bags as a new product category within the consumer goods industry to cater to individuals who struggle with impulsive spending.
2. Financial Services - Disruptive innovation opportunity: Collaborate with financial institutions to incorporate the automatic locking bag technology into credit and debit cards, providing consumers with an added layer of spending control.
3. Technology - Disruptive innovation opportunity: Partner with tech companies to integrate automatic locking bag technology into wearables or smart devices, creating a seamless and personalized user experience.
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