Source: http://vimeo.com/43038579
I totally agree with Torchinsky: we may be looking at a new pair of successful entrepreneur millionaires. Unsatisfied consumer needs and problems are waiting for revolutionary products, but there are several implications to consider.
A common issue (at least among the relatively affluent) is the cost of looking fashionable for safety: wearing a bicycle helmet. The Hövding helmet resembles a scarf, cleverly disguised into the wearer’s outfit that deploys an airbag when the device detects a rider’s falling action. There are several implications for consumers and investors to consider with the arrival of this new product.
The Hövding has the advantage of the first-mover effect: the product is new and an attractive solution for a large audience of fashion-conscious bikers. Since production has not yet been scaled, the resulting price is a high 399 GBP. There’s still room for expansion, so why aren’t investors rushing to bring this revolutionary product to the Americas? Asia? The international market?
New things may come with attractive solutions, but like the majority of new technology, the product may require extensive long periods of research and development to discover and fix bugs and potential flaws, especially when the safety of the consumer’s brain is at stake.
Check out Torchinsky’s blog here.
Torchinsky, Jason. “Swedes Develop Invisible Bike Helmet.” Web blog post. Jalopnik. N.p., 7 Nov. 2013. Web. 8 Nov. 2013. <http://jalopnik.com/swedes-develop-invisible-bike-helmet-1460189477/>.