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Infinite, sustainable growth ideas and examples for strategic thinking executives every Sunday

THE BLOG

Innovate Africa With Dotun Adeoye Every Sunday

Infinite, sustainable growth ideas and examples for strategic thinking executives every Sunday

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3 Case Studies of Product Innovation Focused On Cost Of Living Crisis

The cost of living is rising in many parts of the world. Prices on food, rent and other necessities make it hard for people to afford the basics. UK retailer Very, Jewellery company Tiffany’s sells simple yet classic pieces that can be worn year after year. The New York-based apartment rental company helps struggling renters find apartments with landlords who offer flexible lease arrangements. Instead of buying a movie ticket and seeing only one movie at a time, MoviePass allows users to see unlimited movies per month for one low price. The retail chain T.J. Maxx is known for selling brand-name clothes, decor and beauty products at discount prices.

The cost of living is rising in many parts of the world. Prices on food, rent and other necessities make it hard for people to afford the basics.

Many parts of the world are experiencing an increased cost of living. Food, rent and other conditions make it hard for people to afford the basics. As a result, some people have lost their homes, and some have had to move in with friends or family.

Very: New Everyday collection

Very is launching a new everyday brand fashion and homewares collection with affordable products designed to help customers handle the rising cost of living. 

The brand includes over 700 products from women’s, men’s and children’s clothing and homewares, including furniture, lighting and bedding, designed in-house. Very says its Everyday products cost an average of 20% less than its own V by Very brand range and that 85% of products will cost £30 or less. They also include products designed to be more sustainable, such as denim produced using less water and chemicals than traditional methods. 

Robbie Feather, retail managing director at The Very Group, says: “We’re proud and excited to launch every day. It offers our customers timeless wardrobe staples for the whole family and a brilliant mix of essentials and finishing touches for their homes.

“As the cost of living continues to rise, we know the value for money matters more than ever to our customers. That’s why we plan to grow the Everyday collection, adding hundreds more lines of great quality fashion and home products at affordable prices over the next few months.”

Instead of buying a movie ticket and seeing only one movie at a time, MoviePass allows users to see unlimited movies per month for one low price.

Instead of buying a movie ticket and seeing only one movie at a time, MoviePass allows users to see unlimited movies per month for one low price. The pricing is tiered at $10, $20 or $30 per month if you sign up for an annual plan. In addition, you can use MoviePass to see a movie at any theatre that accepts debit cards (most theatres do). Users select the showtime and theatre on their app, check in when they arrive at their chosen venue, and then proceed through the main entrance as usual so that security can scan their ticket stubs or passes; MoviePass will cover the cost of admission from there on out!

The retail chain T.K. Maxx is known for selling brand-name clothes, decor and beauty products at discount prices.

T.K. Maxx is a discount retailer that sells brand-name home decor and beauty products at discounted prices. It carries various items, from clothing to furniture to beauty products and cosmetics. As a result, the average price point for its merchandise is low compared with other retailers offering similar things.

T.K Maxx is a good case study to draw inspiration from about providing suitable products across seasons and financial climates.

These companies are thriving because they’re finding new ways to help customers save money.

The global living cost crisis is in full swing, but some companies thrive in this environment. They’re not necessarily making money from selling products; instead, they’re finding new ways to help customers save money.

These companies are thriving because they’re finding new ways to help customers save money.

These companies succeed because they’re finding new ways to help customers save money.

Bottle Line

The global cost of living crisis is an evolving problem. But these companies are finding new ways to help customers save money. They’re providing affordable products via innovative sourcing and pricing. These case studies have inspired you to innovate and thrive in 2023 and beyond.

Who am I?

I am Dotun Adeoye, a Business Growth Strategist & Author of the 5 Pillars of Business Growth.

I’ve built up my experience via serial entrepreneurship, consulting leadership roles in business growth, business development and product innovation in large companies worldwide in the last 29 years.

Today, I consult with large businesses on how to sustainably grow their businesses, sustain infinite growth, ensure business continuity and achieve a legacy.

Hire Dotun Adeoye to Speak Virtually or In – Person at your company’s event to cover this or other topics. You can also get in touch via +44 203 097 1718

 

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Innovate Africa

With Dotun Adeoye

Every Sunday

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 Teaching business leaders how to grow their businesses & leave their legacy.