The Role of E-commerce in Product Innovation
A R&D guide outlining ways to use e-commerce for a more effective analysis on a future product’s success.
There are dozens of reasons why products fail, and our engagement leaders see them daily. The categories where SPRIM’s clients innovate (functional foods, FMCG, prescription drugs, personal care), the markets they sell to, and the sales channels they use are not just targets, but dynamic landing zones. These landing zones are continuously shifting and easily missed, resulting in poor product development results. Since consumer buying criteria changes quickly, e-commerce allows you to test products easily with low risks to ensure you’re hitting the right market.
We’re seeing the proliferation of online shopping for CPGs; however, companies still ask for brick and mortar product testing. In our experience, those clients need to take a step backward.
This guide is meant to be an introduction to using e-commerce in the R&D process.
About the Author
Dan Brenner is the Chief Growth Officer at SPRIM and SPRIM Ventures. He leads client engagement with a focus on business strategy, new product development and consumer research. Dan has co-founded and led e-commerce companies, managed brands from start-up to acquisition, and worked with R&D executives at some of the largest consumer product companies in the world.