According to Trendwatching.com, innovation is the only way to survive in an ever-growing global and competitive business arena. It appears that innovation is particularly successful in certain struggling markets.
With the retail sector currently in tatters, and under pressure to maintain profit margins as consumers save rather than spend, maybe innovation is the key to trying to survive in this tedious market?
This month, Trendwatching.com has announced that the ‘Innovation Extravaganza’ is upon us, providing a list of smart ventures, and a range of goods and services, which are delivering in surprising new ways.
Here of some of our favourites:
Hoseanna delivers a new (run-free) pair of pantyhose to customers’ doors every month in the US. Really, why didn’t we think of this…?
Men are useless sends essential grooming products to customers every month in the UK. We really hope someone in Australia starts this soon…no offense Aussie guys but sometimes your hopeless!
Burberry launched the Burberry Retail Theatre to showcase their Spring/ Summer 2011 collection, an event that invited customers from 15 countries to its stores to purchase clothing straight off the runway. We wish we were invited…our bank accounts on the other hand are relieved we were not.
A final tip from Trendwatching.com that we would like to share:
Consumer’s wants are sometimes frivolous, new products and services can be too (as demonstrated above). Innovation doesn’t have to be so serious all of the time…so why not give it a try?
To view the full Trendwatching.com report click here