How would you like to play a $13 Etch-A-Sketch on your $3500 52 inch LCD TV?
Just about everybody had an Etch-A-Sketch when they were a kid, but if you didn't it's not too late. $13 will get you an electronic version that you can play on your TV and, get this, when you shake the controller it erases the picture. Unlike the real one there is probably an undo button.
Implications - In the last few years, there has been a marked movement towards celebrating fashion, movies, and games (video and otherwise) of the past. A company can capitalize on this newfound consumer desire for nostalgia by investing in marketing/a product that explicitly references a popular cultural trope of the time and updates it to fit in a 21st Century aesthetic. By offering consumers the best of both worlds, the company shows a commitment to ingenuity and innovation.
Cheap Retro Thrills
Deluxe TV Etch-A-Sketch
Trend Themes
1. Retro Nostalgia - There is a growing consumer desire for nostalgic products that reference popular cultural tropes of the past and update them for modern times, presenting an opportunity for companies to tap into this trend by offering updated versions of nostalgic items with a 21st Century aesthetic.
2. Electronic Remakes - As consumers seek modernized versions of classic toys and games, companies can create electronic remakes that retain the essence of the original while incorporating new features, providing an opportunity for innovation and market appeal.
3. Nostalgic Gaming - The popularity of retro gaming experiences presents an opportunity for companies to develop and market nostalgic gaming products that evoke feelings of nostalgia while leveraging modern technology and features.
Industry Implications
1. Toy Manufacturing - The toy manufacturing industry can benefit from the trend of retro nostalgia by creating updated versions of classic toys that appeal to consumers' desire for nostalgic experiences, providing a disruptive innovation opportunity.
2. Gaming Industry - The gaming industry can capitalize on the demand for nostalgic gaming experiences by developing and releasing updated versions of classic games that combine nostalgia with modern technologies and gameplay innovations.
3. Consumer Electronics - The consumer electronics industry can tap into the market for electronic remakes of nostalgic items by incorporating modern technology into classic designs, offering consumers the best of both worlds and creating disruption in the industry.