Decision Support

Infographic: The 5 Stages of Modern Product Creation

Team MakerSights

July 20, 2022

Most brands develop 3-5 large seasonal assortments each year, with each release taking 18-24 months to complete. Stakeholders gather together for hours at a time to share instincts and opinions, pass around physical samples, and debate over every product detail. 

Most styles never make it to consumers, bold newness gets cut in favor of proven past sellers, and usually the loudest voice in the room gets the final say. While historical sales performance and market trend data is often used to help shape assortments, most brands still fail to get input directly from the source best able to accurately predict demand and right-size investments: consumers. 

And it’s showing. Not only are consumers satisfied with products for just half as long as they were 15 years ago, but retail overproduction has reached an astonishing 40% per season. Markdowns now cost brands a whopping $300 billion annually, or 12% of total retail sales

Fortunately, there’s a better way, and it starts with putting consumers at the core of your product strategy. Take a look at the below infographic to learn all about the 5 stages of consumer-obsessed product creation and what brands like Taylor Stitch are doing to reach full maturity.

MakerSights Modern Merchandising Infographic.

Learn More about Modern Product Creation

While every brand’s journey to modern product creation and merchandising is unique, MakerSights’ 5-stage maturity model maps out the most common challenges and stumbling blocks, top data sources and technologies, and key opportunities and best practices found along the way. 

Download the free 47-page guide to learn which stage your brand falls into, specific steps you can take to get to the next level, and how consumer-obsessed brands are driving success.

Team MakerSights

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