FUTURE TRENDS: Consumer Product Reviews Driving Future Innovation

Consumer product reviews will drive future innovation

Consumer product reviews are a crucial source of product intelligence, which help us arrive at our definitive purchasing decision when we are shopping online. With appropriate data-mining techniques, these reviews will eventually turn into an idea-stream driving future product innovation. In a study by the New Jersey Institute of Technology, researchers studied ways of extracting design and function-related consumer opinions found in product reviews. This data offered more relevant and complex information than traditional market research methods, which are often times expensive, time-consuming, and limiting.

Online Ads will need to become simpler to remain effective

Traditional online advertising is facing its near death, not only because of the rising popularity of ad-blocking applications, but also due its own ineffectiveness. A study conducted by University of Maryland and Tilburg University in The Netherlands, exposed how most online ads are being over-looked in the real-life scenario because they are trying too hard to be “clever”. Finely executed creative ads perform well in the testing environment because of the longer exposure they were given, but in the visual complexity of nowadays internet they failed to grab users’ attention. The research, which organized online ads into 3 categories based on the complexity of the message they intend deliver, came to a conclusion that it is only simple, upfront ads which have a chance to remain effective.