Credit Union

The shift from offline to online shopping has been rapidly accelerating, driven by technological advancements, changing consumer behaviors, and the global impact of the COVID-19 pandemic. This transformation has seen a significant increase in e-commerce platforms, offering consumers unprecedented convenience, a wider range of products, and competitive pricing. The adoption of smartphones and high-speed internet has further fueled this trend, enabling shoppers to browse and purchase items from virtually anywhere. While online shopping has increased the volume of purchases, it has also led to a rise in unnecessary or borderline reckless spending.

This trend underscores the need for a shift in consumer buying behavior toward a more savings-oriented approach, reducing impulsive expenditures. When consumers adopt the mindset that every penny not spent on impulsive online purchases—often triggered by targeted ads on social media or enticing deals on
e-commerce platforms—gets saved, they are more likely to differentiate between
essential and non-essential items. This conscious approach to spending encourages individuals to deliberate more before making purchases, prioritizing needs over wants. Such an improvement in buying behavior can significantly curtail unnecessary expenses, transforming potential impulse buys into savings. This not only fosters financial well-being but also promotes more mindful and sustainable consumption habits in the digital age.

Encouraging savings enables members to invest their saved amounts in areas that can generate returns, effectively making money from money. When credit union members save money by curtailing overspending on online platforms, they gradually build wealth and become better equipped to make sound investment decisions. Additionally, as members of credit unions, these savings enhance the financial, technological, and operational efficiency of the credit unions themselves. The pooled savings can be used for the mutual benefit of all members. Credit unions, created, owned, and operated by their members, pool their resources to provide loans, demand deposit accounts, and other financial products and services to each other. Any income generated is reinvested to fund projects and services that benefit the community and advance the interests of the members. This improvement in shopping habits arises from an ability to improve online shopping experience in real to encourage depositors to understand the difference between their current needs and wants and those wants that can be postponed.

SwipeSwipe is the only app that helps users make conscious decisions while shopping online to curb emotional spending and increase savings, thereby growing deposits for credit unions. The major benefit that SwipeSwipe offers is that it prompts consumers to reconsider their purchases right at the moment they are about to check out. This Google Chrome Extension encourages users to pause and reflect on their potential purchases, promoting mindful spending. As small and large amounts are saved through these conscious decisions, and subsequently invested in savings or higher-return opportunities, financial security. Over time, these accumulated savings can lead to significant long-term benefits for the members, fostering financial growth and stability, as well as credit unions and local communities.

Further Reading

Need help controlling mindless spending?

Download our FREE Chrome extension to help prevent impulse purchases when you shop online