Tuesday, March 31, 2009

Consumer Innovation Trends for Products and Services

Consumer Goods Technology (website here) has published good insights on what are going to be the drivers for the next wave of consumer innovation in products and services in the article "Top 3 Innovation Drivers Revealed" here. Highlights from the article:

"Economic Blues: History shows that when the economy stumbles badly, entrepreneurs use this as an opportunity to create "engines of change." During the Panic of 1907, for instance, Henry Ford redefined how manufacturing was done by devising a far more efficient assembly line process..."

"Boomer Influence: While all forms of media continue to demonstrate a bias toward youth, the facts of the aging baby boomers tell a different story about economic influence, growing healthcare issues, lifestyle changes and generational transfer of wealth. In America alone, 76 million baby boomers have an annual spending power of $2 trillion..."

"A Greener World: The 19th century was powered by coal, and the 20th century was powered by oil. Recognition of what past and current human behaviors are doing to our planet have us now moving into an era that will be powered by the sun, the wind, wave motion and renewable energies..."

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