Tuesday, 1 January 2008

Innovation blowback- innovation from emerging markets’ that could come back to haunt...

I was in India for the WEF India economic summit, and was hit by the incredible amount of innovation the consumer space is seeing.

Walking down a street in Bangalore, i saw at-least 5 new retail formats, everything from speciality niche offerings to mainstream "catch alls". One example, for instance, is a healthcare outfit called "Cradle". Think of a 5 star birth care hospital, replete with leather sofas, exclusive care, beautiful facilities etc? Well, that's Cradle for you. (http://www.boloji.com/wfs3/wfs322.htm )Very focused, it only caters to birth and delivery (and is trying to expand into neo-nates and paediatrics)

Well, in the intensely competitive marketspace that's India today, I expect to see a plethora of new innovative formats, all of which will have a chance to succeed as a business, given the huge size of the market, and consequently the numerous niches that can be supported. Arguably, some, if not many of these formats will be applicable elsewhere as well (in developed as well as emerging markets). It will be fascinating to see how these innovations pan out in India, and as time progresses, how they come out of india. Watch this space...

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