The world is increasingly complex, instrumented and virtual. There’s vast amounts of information about consumers and the factors that influence their behavior that simply didn’t exist in the data warehouse era. Here, we take a closer look at how all this data will affect retail when it comes together with recent technology trends.
What's Ahead in 2017 & Beyond
Global consumer confidence showed signs of continued improvement in the second quarter of 2017, with an index score of 104, which was up three points from quarter four 2016.
The spread and influence of technology will be a key driver of change across the globe over the next five years. However, there will be regional differences, and some countries will leapfrog traditional cycles of development.
What causes a consumer to pull a product into their lives? Simply put, we bring a product into our lives because it meets a need or desire. That’s the crux of Jobs Theory: doing a job that needs to be done.
Without a doubt, innovation is the lifeline of any consumer-centric business. It is also a race that many enter, but only a handful succeed. New product innovations are the manufacturers’ way of getting a bigger chunk of the ever-growing pie.
Today’s car buyers aren’t just interested in horsepower and transmissions. In fact, about one in five drivers aware of connected cars is already driving a high-tech vehicle.
In order to keep up with busy consumers, retailers are increasingly finding that they need to innovate in ways that make it easier and more convenient for their customers to get what they need and not miss a beat in the process. Channel and format are the stand-out examples of innovation in retail, but they’re certainly not the only ones.
Shoppers never stop shopping, and retailers must evolve to stay ahead of the pack and keep consumers engaged. And today, brick-and-mortar stores need to innovate continually to compete with e-commerce's growing appeal and loosen consumers still firm grip on on their wallets.
The need to differentiate from the competition is as great as it has ever been. For stores to stay ahead, they need to encourage consumers to increase the number of trips, grow the size of their basket, or both.
Innovation isn’t easy. Globally, at least 90 percent of new product introductions fail in the year they launch. India is often viewed as a hotbed of innovation, but truth be told, the odds of launching a breakthrough success in this market may not be meaningfully better than anywhere else in the world.
While it’s immensely challenging to develop and deliver innovative products and services in today’s world, it’s impossible to do so if a company actually believes it’s not capable of delivering a breakthrough.
We are proud to continue our Lessons in Innovation Leadership series with a Q&A with Sanjiv Kakkar, Executive Vice President of Unilever Russia, Ukraine and Belarus. This series showcases experienced business leaders who have led, and learned from, significant innovation initiatives.
The path to purchase for innovation in Asia is a long one, as consumers are typically wary of new products and services. Given the rise in innovation in Asia and existing consumer tendencies regarding new products, Nielsen has identified five key ways to succeed with innovation in Asia.
The path to purchase for innovation in Asia is a long one, as consumers are typically wary of new products and services. Given the rise in innovation in Asia and existing consumer tendencies regarding new products, Nielsen has identified five key ways to succeed with innovation in Asia.
It started with $45,000, an engineering degree...and a dream. Ninety years later, Arthur C. Nielsen Sr.’s dream has been reimagined many times over.
As energy drinks continue their reign as one of fastest growing beverage categories, up 40 percent from 2010 to 2012, there is a surprising consumer audience that has been largely on the sidelines in the energy drink market—until now: busy young mothers.
Most consumers don’t see enough benefits from mobile payment programs to give up their cash or plastic—despite technological advancements or broad availability. At best, marginally better transaction speeds that typically accompany these digitized payments are quickly outweighed by shortcomings in other areas.
Consumers don’t live their lives within the crisp confines of existing UPC classifications, and latent demand rarely pops neatly from customer surveys or focus groups. And that’s the challenge for innovators today on their quest for breakthrough innovation success—understand your consumer and more importantly, identify their unmet needs.
Looks can be deceiving in India’s fast-moving consumer goods (FMCG) market. In spite of the sector’s stable, growing and lucrative appearance, it remains highly elusive and competitive. It’s also very sensitive, as one new product or a simple innovation can change market share in just a matter of days.
Achieving a breakthrough innovation is every company’s goal. They’re extremely profitable, can redefine the basis of competition, and can reinvent companies—even markets.
Doing the hard thing can be very powerful and yield dramatic results. But it may not win you many friends.
Nielsen conducted an analysis of 3,439 newly introduced consumer products to determine 14 winning products that demonstrated breakthrough results in innovation.
Netflix reported another great quarter last month, with big subscriber and stock growth. It's hard to believe it was just two years ago that the company and its CEO were widely ridiculed—and even subject to a Saturday Night Live parody.
In looking at new product innovation between 2008 and 2012, Nielsen found that emerging markets, such as sub-Saharan Africa, are gaining ground as innovators.
