As established in our post The Innovation Premium, consumers are willing to pay significantly more for products they feel are innovative. But how do consumers perceive innovation in a company?
The answer surprisingly, is not all about technology. Technology was the lowest driver in the perception of innovation, with 66.3% of consumers agreeing that a company can be innovative without technology. The most important element in perception of innovation for almost half of all consumers is ‘coming up with new ideas’, regardless of a technological component; an interesting finding for brands that might be trying to shoehorn modern digital technologies into their new products.