D2D Launches Emergency Gift Card Pilot with Brooklyn Cooperative Federal Credit Union
Can savings be commoditized to help consumers save for a rainy day? At D2D, we are exploring this question to develop innovations that make savings a more engaging and impulsive decision that helps consumers build a cushion for themselves and their loved ones. This week, D2D is putting this concept to the test with the launch of an emergency gift card pilot being offered by partner Brooklyn Cooperative Federal Credit Union (Brooklyn Coop). The card is marketed and packaged to communicate that its purpose is "for an emergency". The packaging is sealed with a sticker, encouraging consumers to hold onto their card and break the seal to use only when an emergency hits.
Samira Rajan, CEO of Brooklyn Coop, expressed enthusiasm about the launch: "The team at Brooklyn Coop is very excited to see how our consumers respond to it. The launch comes just in time - an opportunity to promote a new gift for family and friends for the holiday season."
The emergency gift card incorporates several insights gleaned from D2D’s background research: a) consumers like to gift tangible savings to their loved ones b) savings behaviors can be influenced by meeting consumers where they are and tapping into existing behaviors, and c) consumers are willing to pay for commoditized savings. For more information, contact Sarika Abbi.