00:00 Si Rong: Hi Im Si Rong, a final year Business student, and Im a friend of Rafikah.

00:06

00:07 Jian Zhong: Hi Im Jian Zhong, Im a third year CNM major, and Im Shi Jies friend
00:11

00:12 Anthea: Hi Im Anthea, Im year three Business and Im friends of Shi Jie and Lin Shan
00:18

00:19 Scott: Im Scott, year three Marketing, Business Marketing, and Im friends of
everyone. 00:24

00:26 Yi Shan: I am Yi Shan, year three Business, friends of Jing Yu. 00:29

00:30 Rafika: Okay, cool. Awesome, alright, maybe we will just get started. This will
probably take kind of thirty to forty-five minutes max. So, lets just go around the table
and basically on a scale to five right, how important is keeping your budget when you
shop? You know, when you shop do you like to track your expenses? Or are you kind of
like, okay, you know, I dont care, I just wanna shop and till I drop in that sense? Anybody
can start. Scott? 00:57

00:58 Scott: I think for me, I keep to my budget. But if I see that something is slightly above,
like for example my budget is $10 and it costs $15, I will just give and take. But if I see like
something is like way above like $30, then I wouldnt, I will consider like going to another
store? See if its cheaper, or maybe going online to shop. Cheaper. 01:18

01:19 Rafikah: Right, right. So maybe on a scale of one to five in importance, how much
would that be, do you think? 01:23

01:23 Scott: You mean keeping to budget ah? 01:25

01:25 Rafikah: Um 01:25

01:25 Scott: Around seven? 01:26

01:26 Everyone: One to five 01:27

01:27 Scott: Oh, one to five. Okay, four. Three. Four, four, four. 01:31

01:31 Rafikah: Okay, cool. Nice, thank you for the answer. Anybody else? 01:34

01:34 Jian Zhong: For me, it would be three? I mean like, price is an important factor, but Ill
also look at the quality. So, I wouldnt pay for something that is of low quality but within my
budget, but I think its expensive for the quality. So, if I have to exceed my budget a little bit
for something that is of better quality, I would. 01:53

01:53 Rafikah: Right, right. Okay, cool. 01:54

01:54 Anthea: I think maybe it for me would be a three? Cos sometimes I have the
budgeting app on my phone but sometimes I do not keep track so much of it. And like, if I,
ya, as what youve said, if I see the thing is of value, like its good quality for the price, I
dont mind forking out a bit more? But like, if its like, way over my budget, like what Scott
said _________ (02:16), ya then I would not purchase it. 02:19

02:20 Rafikah: I understand. Okay, cool. 02:21

02:22 Si Rong: For me, its like a three when Im overseas, so the budget is really not that
important. Cos like, its like, you know like its a sunk cost already so might as well just
spend whatever you want. But then if Im in Singapore, then itll be a four, because I dont
know, like the Singapore culture is, like, very prudent since young so, like budgeting is
actually quite important. 02:41

02:42 Rafikah: Okay, cool. 02:43

02:43 Yi Shan: I think for me, its a four because I like to compare prices from before like I
purchase something. But I agree with all of them cos like, if the quality is good, and then
like, the price exceeds a little bit only, I think its okay. 02:54

02:54 Rafikah: Okay, thats ______ (02:55). Ya, I think most of you guys like three to four?
So that actually a very promising thing for us. So, the product idea that we actually came
up with, just to give you a background, is this thing called ShopSmart. So ShopSmart is a
patch that you can put in your bag, it can be put in a shopping cart. And basically, you can
go around shopping, lets say youre in H&M or youre in a grocery store, whatever it is,
you put in the item that you want, and the bag is with, basically the patch is linked to your
smartphone, and you can actually track your budget. So, for example, if I programmed my
budget today to be $50, you know, if I exceed $50 with the amount of items that I put in
that cart or in that bag, there will be an alarm sounding. So, a very simple concept, its just
a patch that you can put anywhere, it doesnt have to be a bag, it could be a cart, it could
be a basket, whatever it is, or even a plastic bag. But basically, you get to be able to
receive warnings and stuff like that on your app. So basically, my next question is, do you
think such a product will help you track your shopping budget? 03:57

04:00 Scott: I think it will help me track. But then, like what if I dont hit the target, does it
encourage me to spend more to hit? Like for example, I put $50. Like for example, I went to
grocery store and the things are on promotion, so, and I dont hit my $50, does it entice me,
because its like an anchoring effect, you must spend more just to hit that $50. So, I feel
that, it will actually like cause me to spend more than I actually would want to spend.
Because like I do mental accounting, so I think it will be an added bonus but not very
necessary for me. 04:34

04:34 Rafikah: Okay, cool, cool. How about you guys? 04:36

04:37 Si Rong: For me, Im just wondering about the function of this ShopSmart product. Cos
its like, as you said its within one store H&M only right, and like, within like, one, like,
grocery store. But what if my one day budget consists of like many different stores, so like,
how do I allocate these different budgets? 04:58

04:59 Rafikah: So, just to clarify, actually this patch works in any shop. So, as long as you
put this patch in any, for example, your current bag right now, if youre shopping for
grocery stores and H&M, any item that you put in, youd be able to track. The only
problem, the only caveat here is that obviously when you get out of the shop, you cannot
put in without you know _____ (05:19). But having said that, its also the same, so even if
I, lets say, I put in this bottle water inside my bag, Ive purchased it. So, its like, lets say
$10, so in my app, I can see that $40 is left. So, if I go to another shop, they will, you know,
smartly know that, okay, I only have $40 left to purchase at a H&M. You know? So ya,
thats the idea. 05:39

05:40 Yi Shan: So it only records after you buy the thing? 05:43

05:44 Rafikah: No, before and after. So, my point is that you know before you, even
within the shop before you actually make the purchase you can track, even after, like for
example, if I, like what Si Rong said, if I buy from two stores, I can also track what Ive
purchased before within that budget, and add another shop before I actually purchase at
Shop B, for example. 06:02

06:03 Scott: Oh, I thought you have to spend all $50. 06:04

06:05 Rafikah: No, no, no, no. So its among the different stores that you have and also
before and after ______ (06:11). 06:12

06:13 Scott: That clarifies. 06:14

06:15 Rafikah: So ya, with that clarification, maybe just give me a rating. Like, out of a
scale of one to five, do you think that this will help you track your shopping budget? 06:21

06:21 Yi Shan: I think it does help to help us to track. But then, I feel that because it will be
quite annoying for the app to _______ (06:30) you know? So ya, maybe at the start Ill start
using and then like maybe like after a few weeks I might actually stop using. 06:37

06:37 Rafikah: Okay, understood. How about the rest? 06:39

06:39 Anthea: Can I check whether the alarm is in your phone, right? Or is like a, like a, like a
legit alarm? 06:45

06:46 Rafikah: No, so its your, its your phone. So 06:47

06:47 Anthea: Okay, so its a notification kind of thing? Okay, okay. Cos I was wondering
______ (06:50). I think it will be quite good, Ill rate it a four out of five. Because uh, partially
its because like you no need to key in the amount spent, itll just automatically, so its quite
easy to track. 07:03
07:03 Rafikah: Okay, cool. How about you guys? 07:05

07:06 Si Rong: Personally, Ill give it a three out of five? Cos like, I can use my own calculator
to calculate. _______ (07:12) 07:13

07:14 Rafikah: Well get to that actually alright, ya, we will get to that. But ya, thanks.
Okay, how about you? 07:17

07:18 Jian Zhong: I will rate it a three as well. I would think its very simple, like you just
have to put it in, you dont have to key in your own numbers. But, like, how do I put it? An
alarm is too much, like maybe a notification? Like, alarm is quite scary. Ya, then, like for
example, in the morning when my alarm clock rings, I will just snooze it and go back to
sleep. So, like, so what if there is notification? I will just, like, if I have to spend I have to
spend, I would spend. 07:44

07:45 Rafikah: So I guess ya, I mean all of you guys are telling me, you know, almost the
same thing. Basically, what amount that you put in your, you know, what amount you
programme has to be accurate. It cannot be like, just a number you throw in. You know, it
has to be something you can actually spend on it. So, okay, cool. 07:59

07:59 Nina: Scott? 08:00

08:00 Scott: I will give it a four, ya. 08:02

08:02 Rafikah: Okay, nice. So maybe lets move on to the next so-called feature. So,
maybe just give me a shout-out about how important is like, forgetting itemshow
important is it to not forget items on your shopping list? So, for example if you on an
errand, you have to buy like milk, eggs, H&M _______ (08:19), bag, whatever it is. And
then you all these lists, do you guys think its important not to forget or are you, you dont
really care too much about it? 08:27

08:28 Yi Shan: I think its important, especially, if like, for example if you go grocery
shopping and all, and like, for example, like, theres things that you have to buy, like, before
a certain date. So ya, I think its very important. 08:39

08:39 Rafikah: Okay. 08:39

08:40 Scott: To me, its very, very important, because like, on my phone I also will put like,
like what I need to buy, and then, so that I wont miss out. Because like, sometimes you
have so many things to buy that you just, like one item missedyou miss out one item and
then you go without that because I dont really goI go once a week, grocery. But then, like,
because the grocery is so far, so, like I wouldnt really like, make the effort to go back. So, I
will just live one week without it. 09:02

09:02 Nina: Okay. Sorry, just on a scale, so, _______ (09:05). Five? 09:05

09:06 Scott: I will give it five also. 09:07

09:08 Rafikah: Okay, cool. How about you guys? 09:10

09:10 Jian Zhong: Can I just clarify, specifically, groceries is it? 09:13

09:13 Rafikah: Ah, no. It could be anything. To give you an example, like, for me when I go
shopping, Im a very organised shopper. So, I, I, I literally, literally, put out my list of
things, you know, like I want to buy two dresses, you know, literally. ________ (09:26). So,
so, ya. But I just want to know are you guys, you guys find that important? 09:31

09:32 Jian Zhong: Its important, but actually I thinking that it depends on what kind of
shopping that you do. So, for example, if I were to go for, if Im shopping for clothes, if I miss
out on one t-shirt it wouldnt really matter because I have a lot of others at home? But, for
example, if I am shopping for ingredients for baking and halfway through I realised I forgot
eggs, then how? 09:49

09:50 Rafikah: Okay, cool. Okay, nice. 09:54

09:55 Si Rong: Ya, so like, for me, its like, the importance is actually three? Cos I dont really
do grocery shopping, like my mum does that. And like actually I will window shop, and if I
dont window shop, I will impulse buy, so like all these kind of things, is like, I dont follow a
list. I follow my heart, so, ya. 10:10

10:14 Anthea: I think I will follow his sentiments. Like, for grocery, maybe like, itll be more
important, But for clothes, which is like, is a like, not so necessity so I wouldnt really have a
list. 10:26

10:26 Rafikah: Right, right, right. Okay, cool. 10:29

10:29 Nina: Sorry, just forthree uh, four, for you four? For Anthea? 10:35

10:35 Anthea: Ya, four. 10:36

10:37 Jian Zhong: Sorry, just to add on, I would think the context is important as well. Cos in
Singapore, if you forget something, you can simply go anywhere like 7-11 or simply go back
to where we were to buy. But, if its like in Australia or U.S. kind of countries, where, like,
people stay very far away. So, if you forget your staple for that week then, ya, thats it. You
can go back _______ (11:00)

11:01 Sure, sure, sure. Okay, so maybe just to add, so with, linking that back to ShopSmart
right, so, okay, so the fact that you can programme your numberyour budget, as well
like, maybe the items that you need to buy, do you think ShopSmart can actually help you
buy all the items that you have to buy on your shopping list? You know, if you think that
thats a far-fetched concept just feel free to say, or if you dont understand that concept
also let us know. But basically, what were trying to say is that ShopSmart is able to
programme your budget at the same time, you know, because you can try exactly what
items you purchased, they can actually, like, link it back to the what you stated in your
app, and you know, be able to say, oh okay, have you bought eggs? and then theyll
match. If you never put eggs in your bag, then its not right? Then you so, so ya, thats
the concept. So, do you think it can help you, in, in that sense? 11:48

11:49 Yi Shan: I think, for myself, I think it helps cos I will tend to forget about my list while I
shop. So, ya. 11:55

11:55 Rafikah: Okay, alright. Ya, one short answer is fine. 11:58

11:59 Nina: So, on a scale, sorry, on a scale of one to five, _______ (12:02) around four?
Okay. 12:03

12:04 Rafikah: Okay, how about the rest? 12:05

12:05 Si Rong: Also, can I clarify, I can type in like the number of things that I want, like the
kinda things that will remind me if I didnt put inside the basket or whatever. 12:13

12:13 Rafikah: Yes, that is the concept of this 12:14

12:13 Si Rong: Oh, okay, okay. How about, like, the online goods? Or is, this is just physical?
12:18

12:18 Rafikah: This is physical, mostly, ya. 12:20

12:19 Si Rong: Okay. I think its good for _______ (12:24) 12:24

12:24 Rafikah: Okay, cool. The rest? 12:26

12:26 Anthea: I think for me itll be four also? Ya, cos kind of, kind of good to help you
remind stuff. 12:34

12:24 Rafikah: Okay. 12:25

12:35 Jian Zhong: For me itll be four as well. Like, if I have a piece of paper, the list, I
wouldnt go back to the list. But then since its on a phone, it will just remind me. So, four.
12:43

12:44 Scott: I like the idea of the shopping list, but I dont, Im kind of like sceptical about
the, the, the, the costing, because I dont really go out with a budget for shopping. I just
need that stuff, so no matter how much it costs like, wherever, like, groceries, I just need it.
So, I wont care about the price, so, Ill give it a four also. 13:01

13:01 Rafikah: Okay, for the shopping list, in that sense? Not really the budgeting? 13:04

13:02 Scott: Ya, for the shopping list. 13:04

13:04 Rafikah: Okay, so, understood. So, the third most important feature that we actually
have is, actually your point is quite about discounts and promotions. So maybe just give
me a breakdown, like, do you guys find it important, like, to have discounts and
promotions when you shop? Are you all, are you guys like oh, you know, if you go, if you
see sale youll run away that kind? Because there are people like that. Anybody? 13:26

13:26 Yi Shan: So it tells you where, which stores have sales and all? 13:29

13:29 Rafikah: Uh, I, I mean, okay. So maybe I will explain to that later but, but maybe just
tell me is it important for you first. Like, discounts and ________ (13:35). Ya, very, very
five. 13:38

13:38 Yi Shan: Five. 13:39

13:39 Scott: To me its important. Five. 13:40

13:42 Anthea: I think maybe three? 13:43

13:43: Rafikah: Okay, cool. 13:44

13:45 Jian Zhong: Id think four? Ya. 13:46

13:46 Si Rong: Five. 13:47

13:48: Rafikah: Nice, okay. So, ya, so going back to your point, so basically what, what we
wanna do is that you know, lets say if youre in a groceriesgrocery store right, so if I put
in lets say, this, cup, so maybe this cup is on 10% off right now. The app can actually tell
you that this is on 10% off and even though the retail list price is like, say $20, you know,
it will minus off 10% and it will show that it is, you know what Im saying? So, if you have
$50, it will take minus $20 minus 10% of that $20, instead of putting $20 ________
(14:17). 14:18

14:18 Yi Shan: So it calculates for you? 14:19

14:20 Rafikah: Yes, yes, yes. So basically, the next question would then be, would
ShopSmart actually help you maximise yourdo you think ShopSmart will help you to
maximise your shopping budget, you know, with, with the ability to integrate like,
discounts and promotions within their within your. Or you think that oh, maybe this
feature is a bit, you know, uncertain whether it works or something like that. 14:37

14:38 Yi Shan: I think it does help but like with regards to what Scott said earlier about like,
how if theres discount and all, and like, if I didnt spend to what I want, like up to the
budget I set right, it might cause you to overspend. _______ (14:51), like a potential
problem. 14:52

14:52 Rafikah: Right, right, right. Okay, it makes sense. How about the rest? 14:55
14:56 Scott: I think to me like, in terms of like, shopping for clothes, normally its more of a
impulse purchase, like you see, like 50% off then you just go in the store and see something
that you like. In terms of groceries, is, is good, because like sometimes whenever I, but, for
me right, whenever I see like there is a discount for something, Ill just choose that brand
over the others, so its a very, like I give it five, so, its a very important factor to me, so, I
feel that the discount thing is good, for groceries, but not fashion and stuff. 15:25

15:25 Rafikah: Oh, okay. So, for groceries, okay cool. 15:26

15:27 Anthea: Maybe it brings about, I think more of a accuracy, like because you get the
discount already, so, it brings across accuracy when you are calculating, so, no discrepancy I
guess. But for the discounts wise, because I am more of like cos I did a lot of like impulse
purchase based on discounts, so like when I purchase, so and a lot of them became like a
failure? So, like, I would be looking more of like the quality actually, more than the
discounts. 15:54

15:54 Rafikah: Okay, okay, understood. 15:55