New Ventures Consumer Insights

Trend - Web3 and gaming brands are creating dedicated gaming consoles for cryptocurrency and NFT-integrated games. These consoles connect to players' crypto wallets to streamline withdrawing or using acquired cryptocurrencies on other platforms, thus increasing the attractiveness of web3 gaming.

Insight - The incorporation of web3 elements in video games is polarizing to gamers, with many either fully embracing or rejecting the field. However, some of the barriers that prevent gamers from engaging with web3 features include complexity, volatility, and security concerns. In an attempt to better address these concerns, reduce barriers to entry, and expand the web3 gaming market, brands are designing easy-to-use hardware with embedded security features.

Trend - Companies are launching Artificial Intelligence (AI)-powered scribes for the healthcare industry. These AI scribes automate the process of recording verbalized information from the patient and the charting, organizing, and preserving of important details—saving time for healthcare professionals.

Insight - Even in the post-covid world in North America, there is a persistent shortage of healthcare professionals leading to many being overworked. These working conditions reduce the amount of time allotted to each patient, and could potentially lead to some more menial tasks not receiving adequate attention. In recognition of these challenges, companies are launching AI tools and assistants specifically designed to perform documentation-related tasks, such as notetaking and charting patient data.

Trend - Brands in the 3D printing space are releasing materials that prioritize sustainability without compromising on function. The sustainability ranges from including renewable resources, such as wood or plant-based fibres, to using energy-efficient, low-emission production systems.

Insight - 3D printing is continually increasing in popularity not only in industrial applications, but also with hobbyist consumers. However, as the industry continues to expand, it continues to attract more attention from environmental regulators and consumers due to the unrenewable nature of most plastic-based filaments. Brands are recognizing the public and private desires for sustainable materials, and in response are investing in renewable materials and energies.

Trend - Businesses are partnering with sustainable development companies, or launching research divisions, to craft carbon-neutral or negative offices. These buildings use renewable energies and sustainable materials as part of carbon offsetting measures—resulting in tax benefits and lower operation costs.

Insight - Large businesses, particularly those connected to large product supply chains, are increasingly receiving pressure from regulating bodies and environmental NGOs to become more sustainable. These businesses are beginning to monitor each part of their operations to identify areas that can be improved to reduce their emissions. As a result, many businesses have chosen infrastructure as a focus for eco-efforts. Businesses that invest in these shifts improve their image while appeasing regulators.

Trend - Brands in the textile industry are launching new fabric materials made from recovered and upcycled ocean-bound plastics. These textiles help reduce waste while offering affordable products for related industries, such as hospitality and fashion—resulting in durable and sustainable alternatives.

Insight - Industries that rely on textiles face large amounts of waste each year, which is increasingly drawing attention from environmental activist groups and government regulators. These industries, namely the hospitality and fashion industries, are tasked with finding ways to hit sustainability goals without sacrificing the quality of experiences for their customers. This is leading to businesses placing pressure on their suppliers, or on new suppliers, to provide sustainability-first products.

Trend - Brands in the workwear industry are releasing connected equipment that aim to improve on-the-job safety while offering convenience. These devices are equipped with features such as environmental sensors, communication tools, cameras, and wi-fi connectivity–each designed to improve safety.

Insight - Employees in physical labor sectors have specific requirements for both equipment and workwear. These workers place a lot of demand on their clothes and devices. These high requirements for durability have made it difficult for the workwear industry to innovate. Despite this, safety and convenience are priorities for workers in these fields. As wearable technology continues to improve other sectors, brands are investing in ways to utilize these technologies in the workwear space.

Trend - Brands in the beauty industry are releasing liquid soaps and soap bars made with single-ingredient recipes. These soaps feature simple labels and are easy to understand by the consumer. The one-ingredient composition makes these soaps easy on sensitive skin or skin with specific needs.

Insight - When choosing personal care products, some of the largest factors consumers consider are efficacy, sustainability, and ingredients. Whether for environmental or personal reasons, many consumers are dissuaded by heavily processed products with complex lists of chemicals and instead gravitate toward organic, locally sourced, and other natural product labels. Brands are responding to these pressures by releasing products with simple, transparent recipes.

Trend - Hardware manufacturers in the industrial and consumer spaces are incorporating solid-state coolers into computational devices. These coolers have less moving parts and less points of failure, as they do not have coolant or fans, leading to less power consumption and less maintenance.

Insight - Nearly every business and industrial building today requires computational devices such as kiosks, computers, phones, and more. Each business aims to lower costs and raise profits in any way possible, provided this does not affect the regular operation of the businesses. One such area companies aim to streamline is maintenance for computers, whether for industrial computers or for workers. These companies desire computational solutions with less required maintenance and lower costs.

Trend - Robotics companies are launching advanced robots capable of automating tasks in the workplace and the home. These robots have dexterous limbs, precision accuracy, and reliable problem-solving skills. Businesses are using these to automate simple and menial to complex jobs in the workplace.

Insight - Some of the most undesirable tasks in the workplace and in the home are menial, repetitive duties. The agents responsible for these tasks often burnout of their jobs quickly, leading to high turnover rates in the workplace, or tasks left unfinished in the home. Given the simplicity of many of these tasks, businesses desire automated solutions that alleviate strain from workers to focus energy on more complex tasks. Robotics brands are launching dexterous, capable robots in response.

Trend - Artificial intelligence companies are training AI models specifically for use in advanced robotics. These models mimick humanlike features, such as hand dexterity, reasoning patterns, and problem-solving abilities. These AI lead to robotics capable of performing tasks with high precision.

Insight - Countless industries are seeking advanced forms of automation as a cost-saving and efficiency-improving measure. With simple task-completing robots such as automated fry cooks, cashiers, or writers having a significant impact on efficiency, there is a clear demand for more multipurpose robots with humanoid-like capabilities. The desire for automation from brands across the industry is leading to partnerships between AI companies and robotics companies to create such sufficient robots.