Here is an article I wrote for Inventors Digest a year ago….funny how some things have not changed! These product categories are still hot…just add in multi-use products like 2 in 1 or 3 in 1 products…think Iphones….enjoy!
Categories for 2009 that hold strong interest for consumers/retailers
With tough economic times still looming and a much softer 2008 holiday shopping season, 2009 will be a challenging year for inventors and retailers alike. When times are tough, people tend to stay close to home and gravitate towards things that are familiar and comforting to them. I have spoken to numerous buyers from major retail chains and catalogs and almost all of them echoed the same sentiments – we are mostly staying with trusted brands that consumers feel good about and are scaling back on bringing in new products from new companies. With sluggish retail sales at major retail chains and even bankruptcy filings from well known chains such as Linen’s & Things and Bombay and a number of others, retail buyers are being squeezed with limited opportunities to bring in more inventory and are simply buying what they need to survive and get through these challenging times. That being said, there are still many opportunities for inventors to get on the shelves at retail. The key will be to “give the people what they want” and based on my extensive research and conversations with industry experts and retail executives alike, I have listed some product categories that retail experts and consumer groups feel will be important growth categories in 2009. In order for leading retailers to differentiate themselves going forward, they must offer unique products along with the everyday items we always purchase. This is great news for inventors! In fact, a number of brands such as Proctor & Gamble, Westpoint Home, and others are actively seeking innovative product submissions as they are looking to inventors and small business for creative and exciting new products that can give them an edge at retail.
For inventors and entrepreneurs, the time to bring that product idea in your mind to life is now! By creating products that match well with current consumer demand, you may be well positioned to offer consumers innovative items that they are seeking and reap the rewards of your hard work.
Popular websites who regularly monitor retail trends and consumer buying habits such as Trendwatching .com, euromonitor.com, retailingtoday.com, reuters.com, and cesweb.org have conducted various studies with consumers as well as manufacturers to learn what types of products people may wish to purchase in the coming year. Combined with conversations with leading retail chain buyers and our own perceptions of social trends, here is what we predict will be the HOT CATEGORIES FOR 2009:
Toys and Games – Always a popular category! I have read numerous articles from manufacturers who plan to expand their product line to include outdoor play items like backyard toys such as inflatables, playhouses, sand and play boxes, and inexpensive sporting goods like golf and baseball items for kids play. A number of buyers I have spoken to are in need of fun new designs and product ideas that allow kids to play outside more.
Pet Products – According to Packaged Facts, a leading market research firm, the pet products industry is still growing and will surpass the 11 billion dollar mark in 2009. Convenience items such as travel accessories for pets will make up a large portion of the growth and all natural products will be in demand.
Juvenile Products – baby items such as strollers, eco-friendly teddy bears that emit sounds and convenience items for moms that care for babies all day will be in high demand as parents are craving lifestyle items that make their days easier and less stressful.
Baby Boomer Products – This is and will continue to be a fast growing category as the first wave of baby boomers that turn sixty will be in the tens of millions. This group continues to demand more relevant products that keep them looking and feeling young. From technology products such as gadgets, brain games, and fitness items, there are abundant opportunities for inventors to create products that will be needed for years to come. I have spoken with a few buyers that mentioned they are seeking magnification products, items that amplify sound, and technology items such as sleep assistive devices that help people to fall asleep easier.
Video Game Accessories – Here is a category that just gets getting bigger and better. According to Fox News, this ever growing market may surpass the 15 billion dollar mark in 2009 for the consoles and software alone! The accessory market for items such as joysticks and game pads is already in excess of 1 billion dollars leaving inventors with a lot of opportunity to cash in on this fast growing segment. There are millions of kids and adults who regularly play video games. With in demand video consoles such as Wii, Xbox 360, and Playstation 3, there is a great opportunity to create accessory items and devices that make the personal gaming experience more enjoyable.
Low Cost/High Value Products – buyers are requesting low priced items that have a high perceived value as the economy is still unstable. This can range from apparel to gardening tools. Buyers are looking for overall value in many categories so creating a product that looks upscale and trendy but with a lower than expected price tag will be reviewed.
Organic Products – organic products are in demand and will be looked at by retail buyers. Organic does not only mean food items. Clothing, handbags, and bath and body products are just a few examples of products that are made of organic materials.
Consumer electronics – According to the Consumer Electronics Association, slim multimedia cell phones (MP3, web access), cameras, functional watches, tablet PC’s, and flat screen TV’s will continue to be popular while decreasing in price. Creating accessories for these items will be in demand according to retail buyers such as computer accessories and organizational products such as unique furniture to keep files and media in one place,
Indoor games for home use since high gas prices and staying closer to home are prevalent – foosball tables and air hockey type games are great examples of “old school” games that still resonate with consumers of all ages. Creating new types of multi-use games and variations of well-known products should get a lot of attention.
