Study Says Innovation Drives Consumers To Open Their Wallets

Studies and surveys on why people buy stuff are more plentiful than water. Every other day some research firm is telling us why we consume like locusts for fast like monks. It’s all good and makes for interesting reading, if not entertaining and humorous.

Getting on the program, research firm Lab42 offers its own report as of July 17, 2015. The results from the company’s survey takes a look at innovation, i.e., what it means to consumers, which sectors and brands people consider innovative, and whether innovation motivates them to purchase.

Based on the survey results, Lab42 concludes perception of innovation is hugely important in purchasing decisions. This claim pushes “innovation” into the realm of being subjective. If the consumer, using unique cognitive methods perceives a product to be innovative, whether it actually is innovative or not, there’s a very good chance he or she will purchase it.

Read more here