Goldpare
Overview
Gold is a unique commodity because its price fluctuates constantly, making it challenging to find the best deal and the perfect time to buy.
We have developed a concept of application that simplifies the process of comparing physical gold prices and provides alerts for attractive offers.
My contribution
Ideation
UX Research (benchmarking, desk research)
Wireframes
UI design
Illustrations
Context
This is a concept project focused on learning and development for a mobile application, created in collaboration with an Android developer.
Year
2021-2024
Understanding the problem
For many people, gold is a choice that represents safety and stability. In a world where most of our money is digital, having something physical like gold can feel reassuring (and can be super satisfying simply from a collecting point of view).
But prices change constantly, so it's important to track them to make a better investment decision.
Our audience and strategy behind gold investment
Target audience: Collectors and stability seekers aged 30-65
American Gallup research shows that the group of investors in physical gold - who want to protect their finances against unpredictability and digitization of the market - is getting wider (and younger!)
This app is designed for the following target group:
aged 30-65, mostly men (Reuters, Investopedia)
higher education and higher earnings
looking for stable financial solutions in times of crisis (study by iKsyns and UEK)
preferring physical gold (bars, coins) instead of digital assets
often with passion for collecting - "it's much more than just investing", it's the beauty and quality of the item
they use apps and platforms to compare gold prices
Key project challenges
A significant problem may be lack of trust in information sources. In the face of numerous scams and false offers, users may be skeptical about applications that are supposed to help them make financial decisions (often for large amounts).
The app also must be able to provide up-to-date data in real time, which means the need to partner with reliable market data providers.
Excess information available on the market. Investors can become overwhelmed by various offers and prices, making it difficult for them to make an informed decision.
Aiming for gold - our vision and business goals
Collecting user base - specific number in 6 months, e.g., 500-100 within the first 6-12 months
Drive revenue through affiliate cooperation with stores
Achieve Initial Revenue Generation through affilliate links
Monitoring key KPI's from the outset - user engagement, retention rates, and revenue growth
From concept to design
Wireframes
Wireframes were created only for the main screens to plan the app's information architecture and layout. The rest of the screens were designed directly in high-fidelity to save time and focus on the final look and feel.
UI Design
The design emphasized a professional and secure look, reflecting the app's credibility while maintaining visual appeal for collectors.
The Outcome
What's next?
The next steps could focus on iterative development and refinement:
Moderated user testing: Validate user flows and hi-fi mockups through testing with a small group of target users (5 potential users)
Building Partnerships with gold retailers
Brand communication: Developing a marketing campaign that target the app’s core audience, emphasizing trust, reliability, and benefits for clients.
Continuous and iterative improvement: Monitoring user's feedback and analytics, to improve the product in next iterations