If you’re an ecom business, you need to implement an innovation codex, here’s why:

The establishment of:

product research technologies like Helium10 or jungle scout.

Together with the turnkey manufacturing services from Chinese “White and Private Label” factories.

As well as the growing access to information 

has made it possible for brands to easily find opportunities.

However, this extreme reduction of barriers comes with downsides: 

White label and arbitrage opportunities are harder to exploit for longer periods of time.

And new products require more differentiation and innovation in order to stay relevant for long.

This forces you to innovate in bigger steps for your products to stay relevant long enough to have a decent ROI before a new generation product has to be deployed.

Bigger steps means more risk, but more brand recognition, more sales, better margins and longer life cycle for your product.

An innovation codex is a compendium of all the ideas generated around features and concepts of new products and it is crucial to developing a portfolio strategy, which is the best way to overcome commoditization. Like,subscribe and comment to learn more about this.