The crisis and the “non-purchasing” power of the consumer

Figures are well-known by all marketing experts: more than half of innovations launched on the market are bound to fail two years later. No one accept it as a misfortune, as a necessary economic rule turning 50% of innovations out to be “wrong good ideas”, or hopeful ideas with wrong approach. No one accept such a fate unless one ignores market analysis, market adaptation and product manufacturers’ skills.

At XTC World Innovation, we don’t have the ability to do miracles. If it was the case, no doubt we would be fabulously rich manufacturers. So, no miracle but a careful attention and a detailed analysis of innovations launched in the world for more than fifteen years put us in a position to establish with no risk a statement of the obvious: “To meet its market an innovation should bring a true new benefit – or seen as such by the consumer”.

Instead of looking for excuses such as low purchasing power to justify a failure, in this difficult context of today, product manufacturers would find some solutions by taking into account the non-purchasing power of the consumers, and their ability to detect rapidly false benefits or poor benefits that won’t attract them to another brand or spend more.
Today we have to deal with consumers who have a true free will and ability to decode promises, consumers who are fully able to make their own choices.

Conducted every year by XTC world innovation, the World Innovation Panorama allows users to find new differentiating innovation drivers to satisfy this new consumer sovereignty. Could it allow the genesis of innovation that will make them go through this crisis more peacefully.