Product Brainstorm

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Product Brainstorm

Product Brainstorm

Paul Salabarria

The new product I would like to create is an air camera. This camera’s features would be to detect motion and self start and scan the room. It will not require a remote. This camera can be used for anything, for example, it can be used for home security, or something as simple as capturing memories at a special event. The technology industry is growing daily, so competition is high. Drones are similar to an air camera and the toughest competition, but the difference is the remote requirement.

Leslee Parker

The new product I’d like to create is a child’s toy that teaches sign language in a new and fun way. This toy would resemble that of a bear of a well known cartoon character and it would have a screen on it’s chest that would be able to display hand signs to teach children sign language. There would be two level to this toy. The first level being the alphabet in sign language. The next level would be basic words and sentences to get them learning more. The toy could be used for any child, the inspiration behind the toy is: My three year old niece had an horrible ear infection that lead to her becoming hearing impaired. We teach her find with videos and learning on our own to help her but, I believe a toy would be more useful being as she is still a child and learning things right now is just playing to her. Competition would be other children toys that are meant for learning sign language.

Brian Purviance

The New Product Idea I have is “Lights of the Seasons”, it will be exterior house lights you put on and around your house as you do when you decorate for the holidays. The key difference is, the lights will have (5) different color lights within each bulb (red/white/green/blue/orange). The reason being, most people don’t mind putting lights up, it’s taking them down that is a pain. This product eliminates you from having to do so and is convenient for round of the year holidays. The seasonal lighting industry is an estimated $12B opportunity!

· Green & Red or you can use Blue/White for Christmas

· White is standard for New Years/Easter

· Red/White/Blue for 4th of July/Memorial Day/Labor Day

· Orange/White for Halloween

· Orange and/or white for Thanksgiving

The key competitors of this will be not lights you hang, but the laser lights that eluminate on your house with brands such as:

· Mainstrays

· StarNight

· As Seen on TV

Industry Threats & Opportunities

· The industry has expanded over the past five years as holidays have become increasingly commercialized

· A greater amount of seasonal decorations are now being sold through online channels

· Rising consumer confidence will spur spending on discretionary items like seasonal decorations

Industry Analysis & Industry Trends

The Retail Market for Seasonal Decorations industry faltered over the past five years, as consumers increasingly opted for inexpensive merchandise, despite rising incomes. Industry revenue experienced downward pressure due to high price competition, and overall, over the five years to 2016, industry revenue is expected to fall. Over the next five years, consumers and businesses will continue purchasing higher volumes of low-priced seasonal decorations. The industry’s growth is expected to be slightly less dismal in the outlook period, as disposable income growth drives industry sales over the next five years.

Industry Report – Industry Investment Chapter

The Retail Market for Seasonal Decorations industry has a low level of capital intensity. This trend is similar to other retail industries, which are generally labor intensive. In 2016, for every dollar spent on wages, about $0.08 is estimated to be allocated toward capital assets.

This category includes expenditure on physical assets required to operate in this industry. The level of capital expenditure is influenced by the size and number of stores an industry player operates. Examples of capital costs include the purchase of fixtures and fittings (fit-outs) for stores and point-of-sale systems. Capital projects are mainly undertaken when a new enterprise enters the industry or when existing stores are refurbished.

Additional Insights for the The Retail Market for Seasonal Decorations Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the The Retail Market for Seasonal Decorations Industry are

· Proximity to key markets

· Having a good technical knowledge of the product

· Economies of scale

IBISWorld analysts also discuss how external factors such as Per capita disposable income and commerce sales in the The Retail Market for Seasonal Decorations industry impact industry performance

Other Key Facts:

What is the The Retail Market for Seasonal Decorations Industry?

Companies in this industry sell seasonal decorations like Christmas lights and Halloween decorations. This report shows the size of the retail market for these products and includes sales from all major retail channels, including specialty stores, general merchandisers and internet retailers.

Industry Products

Christmas decorations Other winter holiday decorations Halloween decorations Easter decorations Saint Patrick’s Day Other holiday decorations

Industry Activities

Retailing winter holiday decorations Retailing Halloween decorations Retailing Valentine’s Day decorations Retailing Easter decorations Retailing St Patrick’s Day decorations Retailing Fourth of July decorations

Michelle Anderson

The Social Watch is a smart watch with a built-in social network platform. The wearer can choose to have up to four social media accounts active at once: Facebook, Instagram, Snapchat and Twitter. Its flat, square frame is water resistant and features a voice-activated camera for video and picture posts. With the Friend Finder screen, connectivity has never been easier while on-the-go. With a new social network ID system in place, wearers can exchange ID codes and select the social media accounts they would like to connect to all at once. The watch also features a social network address book that allows users to compile all their favorite contacts into one place, no matter what social media platform the contact originates from. Using the address book, wearers can send direct messages and even invite contacts to their current location. When using the live stream function, the camera adjusts to the positioning of the screen, allowing the wearer to broadcast in selfie-mode when held up towards their face or with a flip of the wrist, the screen’s auto-adjust feature allows the screen to always project in an upright position.

Josh Richey

My idea is called Smart Blinds. Smart Blinds are a revolutionary idea that will change the window blind business forever. These blinds can automatically sense temperature and sunlight and will have settings where the consumer can set it to control how much sunlight comes in or how much they want to keep out. These blinds are also awesome because they are temperature controlled, so they can keep the temperature of your house at what you like it at. The last great thing about them is that they can “black out” and not let any sunlight in for those who like to sleep during the day or just take a nap. They can also be controlled wirelessly from a smart phone.

Conclusion

We will move forward with Brian Purviance’s idea, Lights for the Seasons. We chose this product because the industry has extensive information online, and it is a fantastic product idea.

Reference:

https://www.ibisworld.com/industry/the-retail-market-for-seasonal-decorations.html