Interac has veered from its core business as an international payment-processing company by creating a music soundtrack intended for consumers to download and listen to while shopping.
The company decided to make the soundtrack after it conducted a survey of shoppers and found that 60 per cent wanted a tool that would help them be more intentional in their purchasing decisions, Interac assistant vice-president of digital and retail commerce products Nadir Henin told BIV.
Interac partnered with Sixieme Son – a venture that makes what it calls "sonic identities" for brands. The result is music intended to have a tempo and instrument combination that makes shoppers be more intentional in their shopping, and make fewer impulse or frivolous decisions that they will later regret.
While the music could be played in retail stores, Henin said that the aim is for consumers to download the music, not retailers.
Soaring inflation has crimped consumer budgets and encouraged more people to be wary of making impulse purchases, according to Interac research.
With money worries rising, 77 per cent of Canadians think positively about intentional spending, and link it with feeling in control, disciplined, thoughtful, empowered, happy and considerate, according to Interac.
"Music surrounds us when we shop, but we rarely stop to think about the emotional responses which are elicited," said Valentin Fleur, managing director at Sixième Son.