Why Consumers Expect You To Innovate Continuously
Innovate continuously to meet demanding consumer expectation. Brands are increasingly facing this challenge and at speed!
The need from the complex consumer in a digitalised age to innovate continuously
Consumers are constantly changing and evolving. Increased digitalisation of our lives drives access to more information, products, and services. The number of consumer touchpoints is rapidly increasing. Combined with an uncertain and changing societal context. We are faced with a complex consumer to understand.
Being informed and connected makes consumers more empowered. They have the access to constantly compare and evaluate products. So, they’re able to demand more. Therefore, brands must innovate continuously to meet these evolving consumer expectations.
Apple and Samsung understand consumer technology demands them to innovate continuously
Digitalisation itself increases the need for continuous innovation. Consumers expect products integrated with the latest technology. The rapid pace of technological change means brands need to adapt and adopt new and emerging technologies to stay relevant.
Mobiles are the most obvious example of seeing this need for continuous innovation in action. Apple and Samsung are the front runners in continuously improving smartphones to meet consumer expectations.
CommBank integrates AI to meet consumer expectations to innovate continuously
The recent explosion of AI is already creating consumer demand for brands to integrate AI into their consumer solutions to augment the human experience. For example, Australian bank CommBank is committed to using AI to exceptional customer experiences at scale. They have recently tested an in-app feature that uses AI to learn the user fuel spending pattern, then alerts them when they should think about filling up and tells them the cheapest option in the nearby area.
Amazon meets the need for convenience to innovate continuously
Consumer demand for continuous innovation is also driven by the increasing desire for convenience. Therefore, the demand for brands to adopt innovations such as one-click ordering, and same-day delivery is increasingly expected. Amazon was at the forefront on this innovation evolution, while other brands have followed such as Dominos who’ve made ordering easier with one-click based on favourites. Brands must be innovating for convenience to compete.
L’Oreal Perso understands consumers want more personalised control
As consumers’ options increase, their demand for more increases. New tech offers the improvement for consumer product personalisation. Netflix and Spotify are experts at personalised algorithms for their content. Consumers are now used to this level of personalisation and want to feel empowered to curate for their own relevant requirements. L’Oreal Perso gives to power to the consumer to control their own personalised skincare solutions. Using AI technology the device analyses the person’s own skin concerns, environmental factors, and preferences to curate a skincare regime that’s dispensed from the device, and then track progress from use. Innovation to find growth from the many but personalise for the individual is a path brands must explore to innovate continuously to be competitive.
Innovate continuously to unlock growth
To be in position to find growth, innovation is key. Investment of innovation enables differentiation in increasingly saturated markets. To keep attracting new customers, brands need to be better than the competition. Keeping up with technology to integrate into innovation is part of this future-focused relevance to meet consumer expectation to innovate continuously in ways to delight them.
Catalyx has launched Bitesize research to help brands innovate continuously.
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