Ethnography of people’s finances
An ethnography of people’s finances to understand financial behaviour
Financial service providers need to be able to understand the needs and behaviours of their customers in terms of how they manage their personal financials and the role which credit cards play in the life of their customers.
Working for the Context Based Research Group, a US based research and innovation consultancy an international ethnographic research project was carried out to understand how people manage their personal finances. A range of research tools including contextual interviews, cultural media sweeps and participant observation were used. The research also mapped participants’ interaction with different financial service brands in the UK. As part of the work the client joined the research team when they carried out home visits and accompanied participants when they went shopping.
A detailed picture of participant’s lives was built up and this formed the platform for future strategic product and service development.