Several weeks ago, we looked at a few Product Manager best practices for determining market need. Among the most vital – and frankly, the most enjoyable – ways to develop product features that succeed in the market is to keep up with industry news and trends in consumer behavior.
Learning which new products are exciting consumers and which ones leave them cold is at the root of innovative product management that anticipates rather than follows the market. To that end, here are three of the hottest technology trends that are shaping the 2015 landscape.
Payment processing is rapidly migrating to the digital world
The days of “cash, check, or credit?” are becoming a thing of the past as more and more consumers rely on digital payments processing for everyday purchases. Retail vendors, financial institutions, utilities providers, and others will need to optimize their payment processing gateways to keep up with consumer demand to shop and pay on the go.
Wearable technology may see a successful run in 2015… if companies learn from last year’s less than stellar performance
Activity trackers such as Fitbit, Nike+ Fuelband, and other fitness-minded wearables made a big splash – initially – but according to a study conducted in January of 2014, more than half of the 6,223 respondents polled stated that they no longer use their activity tracker. Promoting and sustaining long-term engagement is sure to be a focal point for wearable manufacturers in 2015. The highest payoff will likely go to the companies that strike a balance between aesthetics and utility.
Mobile superiority will continue to provide a significant competitive advantage for companies across industries
Last week we looked at some powerful statistics regarding smartphone usage in the U.S. and around the globe. Given the latest findings that adults nationwide spend upwards of 2 hours and 51 minutes on their mobile devices, it should come as no surprise that mobile enablement and enhancement will continue to be a critical factor for the vast majority of market players.