How innovation connects with the curious consumer
Having the latest and greatest shiny toy on the market has always been intrinsically cool. From wireless headphones to meatless burgers, innovation is recognized for being elite, modern and/or progressive. However, breaking the status quo is risky since public perception makes or breaks the success of a new product. Why are consumers and companies always looking for the next big break? In a deep dive into the habits of both companies and consumers, some explanations emerge behind the constant need for new.
DESIGNING FOR SUCCESS
Inventions are developed with hopes of having a unique solution to a problem; however, even though the idea makes sense, it does not mean it will be successful.
An estimated 80% of new products fail or underperform every year (1). This result is partly due to the challenges involved in encouraging consumers to adopt a new product. Companies work to incentivize consumers through design and business congruency. By generating excitement around a product, emotional connections can shift consumer focus to a new release.
Disrupting an industry by revamping ...