Editor’s Note: As ever-vigilant trend spotters, we’ve noticed a few ideas worth keeping our eye on in the new year. Here’s one of the trends to watch in 2013…
There’s a new definition of consumer demand emerging through online funding programs like Kickstarter, where the consumer is actually choosing to support and invest in the ideas or innovations that they want to see developed.
In the last couple years, we’ve seen retail stores and restaurants developed either solely or partially funded by the consumer through crowdfunding. One of the things influencing this trend is the increasing desire to support independent or local retail. For entrepreneurs, this method enables them to take their idea straight to the consumer and ask them to help fund it—no bank loan required.
Philadelphia-based, casual apparel brand Duke & Winston utilized the Kickstarter platform to help gain funding to increase its national presence. Those who “kick in” are awarded merchandise based on their investment level, ranging from a $25 t-shirt up to a shopping spree.