WAYS TO INNOVATE
Now that there are no more new markets to discover, brands have to rely on surprising their existing customers with innovative new products and services. People are eager for new products and ideas while, at the same time, they already have everything. How can a brand be unique and stand out? Standing still is not an option, brands will have to push boundaries to be new and exciting.
For each brand this means something different; after all, homogenisation results in blandness. Brands will need to be self-expressive and highlight their uniqueness. Know yourself, your roots and combine this with research on developments in the world on a larger scale.
Understanding people is key, observe and understand their values & needs while respecting their privacy. Project your findings forward: what will people value in the future? Start anticipating consumer needs, before consumers themselves realise that they need something.
Brands should bear it in mind that consumers are looking to become better people. Only one brand can succeed in being the cheapest, the rest are competing to be seen as the most experienced or innovative brand.
INNOVATION THROUGH SIMPLICITY
Aim for striking clarity and freshness. Improve customer experience with positive simplicity. Address an existing problem & solve it in the simplest way possible. Remove friction, save time and limit choices. Friction-free products do their own marketing.
Radical innovation in compact capsules through third party collaboration. Next to the original line to surprise and spark interest. Experimenting your way forward towards a new aesthetic. Creating new codes mixing references of streetwear & luxury.
HYPER LOCAL NEWNESS
Connect with your surroundings, honouring the place, the city, country and its culture. Partner with local companies, artists and chefs. Bring together communities and create a sense of discovery. The root of a foreign brand’s success in countries like China lies in focusing awareness on the local culture and taking it into account.
In the Omni-era the virtual and the physical worlds cross paths. Cut out traditional steps and friction to create a fluid connection between different worlds. Be disruptive, change consumer expectations and reshape category definitions. WeChat has an app-within-an-app model. You can hail a cab, start a shop, manage your credit card bills, check the news and chat with friends, all from within the main app.
DATA DRIVEN INNOVATION
The possibilities of technology are endless. Create a new layer of reality. Data drives personalised experiences and creates our digital twin. Be aware of the tension between innovation and consumer privacy.
Banner image, Envisions in collaboration with Finsa.