16 Failed Products in the Last 5 Years
In this article, we will be taking a look at the 16 Failed Products in the Last 5 Years. You can also directly check the 5 Failed Products in the Last 5 Years.
Consumer markets are dynamic and the introduction of new products represents both opportunity and risk for businesses. Over the past five years, numerous products have faced challenges and ultimately failed to achieve sustainable success in the marketplace. The unprecedented global event, COVID-19 pandemic, disrupted supply chains, altered consumer preferences, and reshaped the competitive landscape, posing formidable challenges for businesses across various industries.
According to McKinsey & Company, nearly 90% of companies experienced supply chain disruptions during the pandemic, significantly impacting their ability to deliver products effectively. Publicly traded companies such as Alphabet Inc. (NASDAQ:GOOG) and Uber Technologies, Inc. (NYSE:UBER) reported revenue declines as a result of these disruptions, highlighting the widespread impact on corporate performance.
Moreover, consumer behavior underwent significant changes during the pandemic, with a notable shift towards online shopping and digital consumption. A report by Adobe found that online sales surged by 32% in 2020 compared to the previous year, as consumers increasingly turned to e-commerce channels for their shopping needs. This shift accelerated the adoption of digital products and services while posing challenges for traditional brick-and-mortar retailers and physical product-based businesses
In addition to pandemic-related challenges, businesses launching new products faced intensifying competition and higher consumer expectations in terms of quality, innovation, and value proposition. Nielsen research suggests that consumer trust in brands and products has become increasingly influenced by factors such as sustainability, social responsibility, and transparency.
From high-profile tech gadgets to innovative consumer goods, each product faced unique challenges that contributed to the downfall of products launched by many popular companies. For instance, publicly traded companies such as Alphabet Inc. (NASDAQ:GOOG) faced setbacks with products like Google Pixel 4, which failed to impress consumers and critics due to mediocre battery life and lack of innovative features.
Therefore, Innovation remains a key driver of competitive advantage in today's business landscape. However, innovation without adequate market research, consumer insights, and risk assessment can lead to costly missteps. By analyzing the root causes of product failures and learning from past mistakes, businesses can refine their innovation processes, enhance product development strategies, and better align offerings with customer needs and preferences.
Moreover, collaboration and partnerships with external stakeholders, such as suppliers, distributors, and industry experts, can provide valuable insights and resources to support product development efforts. By fostering a culture of collaboration and knowledge sharing, companies can leverage external expertise and perspectives to identify potential pitfalls and optimize product strategies.
In an era marked by rapid technological advancements, shifting consumer preferences, and unprecedented global disruptions, businesses must remain agile, adaptable, and customer-centric to navigate the turbulent waters of the modern marketplace. Through a thorough understanding of past failures and a commitment to continuous improvement, businesses can position themselves for sustainable growth and success in the ever-changing business landscape.
Let's move to the list for the 16 failed products in the last 5 years.
Methodology
Our methodology for identifying the 16 failed products in the last 5 years involved conducting thorough research using Business Insider, Inc., 24/7 Wall St, Listverse, The Verge, and Boredpanda. We selected the 16 failed products in the last 5 years on a structured scoring system. Each product received points based on the times it appeared in the research sources. By employing this approach, we created a definitive compilation of the 16 failed products in the last 5 years and ranked them in ascending order of high scores.
16 Failed Products in the Last 5 Years
16. LG G8 ThinQ (2019)
Score: 1
LG's flagship smartphone, the G8 ThinQ, boasted innovative features such as Hand ID and Air Motion gestures, aiming to differentiate itself in a crowded market. However, these features failed to resonate with consumers, who perceived them as gimmicky rather than practical. Additionally, the G8 ThinQ's design and specifications failed to stand out against competitors offering similar or superior performance at a lower price point. LG's marketing efforts struggled to effectively communicate the device's value proposition, resulting in lackluster sales and market penetration. The G8 ThinQ's failure led to the challenges of competing in the highly competitive smartphone market without delivering compelling innovation or value to consumers.
15. LG Rollable Smartphone (2021)
Score: 2
LG's rollable smartphone prototype, showcased with much anticipation at CES 2021, generated excitement for its innovative form factor and potential to redefine mobile device design. However, LG's sudden announcement of its decision to exit the smartphone market resulted in the cancellation of the rollable smartphone's commercial production. The rollable smartphone, which was poised to offer users a unique and flexible display experience, garnered praise for its forward-thinking design and engineering. However, LG's strategic pivot away from smartphones raised doubts about the company's commitment to innovation in the mobile industry. The cancellation of the rollable smartphone project disappointed consumers eagerly awaiting its release and underscored the challenges of executing ambitious projects in rapidly evolving markets.
14. Sony Xperia 1 (2019)
Score: 2
Sony's Xperia 1 entered the smartphone market with a focus on delivering premium features and a cinematic viewing experience. However, the device failed to gain traction among consumers due to several shortcomings. Despite its high price tag, the Xperia 1 offered lackluster camera performance compared to competitors in the same price range. Additionally, its limited availability through select carriers and retailers restricted its reach to potential buyers. The Xperia 1 also faced criticism for its tall and narrow form factor, which made it less comfortable to hold and operate compared to other smartphones. Despite Sony's reputation for quality and innovation in consumer electronics, the Xperia 1 failed to attract consumers looking for a flagship smartphone with a compelling value proposition, resulting in disappointing sales and market performance making it a failed product.
13. Uber Jump Electric Bikes (2019)
Score: 2
Uber Technologies, Inc. (NYSE:UBER)’s ambitious venture into electric bike-sharing aimed to offer users a convenient and eco-friendly mode of transportation. However, the service encountered numerous challenges that hindered its success. Regulatory issues, including permitting requirements and restrictions on where bikes could be parked, varied across different cities, leading to operational complexities and limited availability in certain areas. Moreover, vandalism and theft of Jump bikes posed significant financial burdens for Uber Technologies, Inc. (NYSE:UBER), requiring constant maintenance and replacement efforts. Operational challenges such as battery management and bike redistribution further strained the viability of the service. Despite initial enthusiasm for electric bike-sharing as a sustainable transportation solution, Uber Technologies, Inc. (NYSE:UBER)’s struggles with Jump bikes showed the complexities of implementing urban mobility initiatives amidst regulatory hurdles and operational challenges.
12. Google Pixel 4 (2019)
Score: 3
Alphabet Inc. (NASDAQ:GOOG)’s Google Pixel 4 flagship smartphone failed to meet expectations set by its predecessors, facing criticism for several shortcomings. Despite Google's reputation for innovative software, the Pixel 4 disappointed users and critics alike with its underwhelming battery life, which struggled to last through a full day of use. Additionally, the device lacked groundbreaking features to differentiate itself from competitors in the crowded smartphone market. The Pixel 4's high price tag, coupled with its lackluster hardware specifications relative to its competitors, deterred potential buyers seeking value for money. Moreover, Alphabet Inc. (NASDAQ:GOOG)’s decision to omit a fingerprint sensor in favor of facial recognition technology received mixed reviews, with some users expressing concerns about its reliability and security. The Pixel 4's lackluster reception underscored the challenges of competing in the fiercely competitive smartphone market without delivering significant innovation or value proposition to consumers.
11. Nintendo Labo (2018-2019)
Score: 3
Nintendo Labo was an innovative concept that combined do-it-yourself cardboard accessories with interactive gaming experiences for the Nintendo Switch console. Launched with multiple kits offering various gameplay possibilities, Nintendo Labo initially generated excitement among gamers and families. However, the novelty of the cardboard construction and limited replay value led to waning interest after the initial launch period. Despite offering unique gaming experiences, Nintendo Labo failed to maintain momentum due to its high price point relative to its perceived value. The lack of ongoing support and updates for new Labo kits further limited its appeal and contributed to its decline in popularity. While Nintendo Labo showcased Nintendo's creativity and commitment to innovation, its failure to sustain interest laid the foundation of the challenges of introducing new gaming concepts into a competitive market without addressing fundamental user needs and preferences.
10. Segway PT (Personal Transporter) (2001-2020)
Score: 3
Marketed as a revolutionary mode of personal transportation, the Segway PT garnered widespread attention upon its debut. With its self-balancing technology and sleek design, the Segway promised to transform urban commuting and personal mobility. However, its high price tag and niche appeal limited its adoption beyond certain niche markets, such as tourism and security. Additionally, concerns over safety and regulatory restrictions hindered widespread adoption of the Segway PT in urban environments. Despite attempts to diversify its product lineup and target new consumer segments, Segway struggled to overcome its image as a novelty or luxury item. The company's decision to discontinue production of the Segway PT in 2020 marked the end of an era for the iconic personal transporter.
9. Google+ (2011-2019)
Score: 4
Google+ was Alphabet Inc. (NASDAQ:GOOG)’s ambitious venture into social networking, aiming to challenge Facebook's dominance. Launched with features like Circles for personalized sharing and Hangouts for group video calls, Google+ initially attracted a significant user base. However, it failed to maintain momentum due to complex user interface and integration issues with other Google services. Moreover, the platform's struggle with identity management and the lack of killer features compared to existing social networks hampered its growth. Security breaches, including one in 2018 that exposed users' private data, further undermined trust in the platform. Despite efforts to revitalize it, Alphabet Inc. (NASDAQ:GOOG) announced the closure of Google+ in 2019, citing low user engagement and the challenge of addressing security concerns.
8. Amazon Echo Loop (2019)
Score: 4
Amazon's Echo Loop represented the company's foray into wearable technology with a smart ring featuring Alexa integration. However, the device failed to gain traction among consumers due to its limited functionality and uncomfortable design. Despite offering basic voice assistant capabilities, the Echo Loop lacked the versatility and utility of other Echo devices, such as smart speakers and displays. Additionally, its bulky and conspicuous design made it impractical for everyday wear, limiting its appeal to consumers seeking a seamless and unobtrusive smart assistant experience. Despite Amazon's marketing efforts, the Echo Loop failed to resonate with consumers, highlighting the challenges of introducing new form factors into the wearable tech market without addressing key user needs and preferences.
7. Google Stadia (2019)
Score: 4
Alphabet Inc. (NASDAQ:GOOG)’s Google Stadia aimed to revolutionize the gaming industry by offering cloud-based gaming experiences accessible across various devices without the need for high-end hardware. Promising seamless gameplay and instant access to a library of titles, Stadia generated significant excitement upon its announcement. However, the platform faced numerous challenges, including a limited game library at launch and performance issues such as input lag and latency. Furthermore, the subscription model and pricing structure for games on Stadia were confusing for consumers, leading to uncertainty and hesitancy to adopt the platform. Despite Google's investment in infrastructure and partnerships with game developers, Stadia failed to gain widespread adoption and faced criticism from both gamers and industry analysts.
6. Google Clips (2018-2019)
Score: 4
Alphabet Inc. (NASDAQ:GOOG)’s AI-powered camera, Google Clips, aimed to capture candid moments using machine learning algorithms. However, the device failed to gain widespread adoption due to concerns over privacy and limited functionality. Despite Google's efforts to position Clips as a convenient and innovative camera accessory, its reception fell short of expectations. Consumers were apprehensive about the device's always-on recording capabilities, raising privacy concerns in homes and public spaces. Moreover, the device's limited functionality and lack of user control over content creation limited its appeal to consumers seeking more versatile photography solutions. Despite Alphabet Inc. (NASDAQ:GOOG)’s attempt to cater to a niche market segment with Clips, its failure to address fundamental user concerns and deliver compelling features resulted in lackluster sales and market reception.
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Disclosure: none. 16 Failed Products in the Last 5 Years is originally published on Insider Monkey.
