Five psychological shifts - Part 1

Innovation Optimism:

• In general consumer are becoming more and more open minded towards new products. The usefulness has transformed innovation-wary consumers into optimists.
• Due to new technologies products of all sorts, not just technology itself, have benefited. In the past most consumer would have fallen into "wait and see" category of shoppers. Today nearly everyone is less suspicious and more willing to try unfamiliar products.
• Especially people younger than thirty-three (first generations which have been growing up in a digital world) want quick fixes to their problem. Therefore they view innovation as essential part to solve their problems.
• Consumer who are craving for innovation are bolstered through the consumer championship and trust bulding of social media, rating and review sites. Nevertheless we (consumers) aren't only more trusting of new things but also increasingly wary of brands and products that don't innovate!

In conclusion you can say that people, especially the young generation, needs innovative products to be satisfied. If products or strategies aren't innovative they will be more hesitant to buy those. John Digles, the executive vice president and general manager of MWW has found the right words: "The biggest risk with being cool is that someday you won't be. You have to constantly reinvent yourself." Consumers are hungry for "new". Innovation is a demonstration of the coolness, smarts and consumer-centricity that today's shopper demand. I want to end this blog entry with the last sentence of Kit Yarrow about Innovation Optimism: "Marketers who understand our thirst for what's new and our trust in innnovation know that they need to delight and inspire shoppers with a dose of technology."