A More Organic & Natural Way to Connect
The question is not “How can a latest technology change the way we live?” nor “What other technologies can we get hold of to give us extra capabilities?” but “how do we want to live?” or “what do we need to achieve a desired lifestyle?” I believe future product and technological developments will derive from desires and questions related to being more humanistic rather than from technological or scientific innovation.
Evolution & Development of Telepresence
Telepresence refers to a set of technologies which allow a person to feel as if they were present, to give the appearance of being present, of to have an effect, via telerobotics at a place other than their true location.
Not Immersive and Technology Oriented
Today, technological interaction is focused and centered on the product and the technology, not around our lifestyle or the way we desire to live. People need to put a pause to their lives to use communication technologies to interact and connect with friends and families.
Today, technology is something that we need to deal with in order to achieve a task or a purpose rather than seamlessly being there.
Trends and Drivers that are Bringing Changes
Macro Trend 1
Millennials are scoping for jobs at international and global level
For Millennials, job search is no longer focused in a city or a country level but a global level since our economies have become specialized and segmented through industrialization; today, young adults are working away from home more than ever and desire for international work experience is constantly at a rise.
Meso Trend 1
Millennials are baby boomers are having meals alone more than ever
Having meals together is a crucial part of human nature that provides a sense of community and belonging. However, many young professionals are having meals alone and consuming more finger and convenient foods due to their busy lifestyles and working environment. Those who are retiring or aging often eat alone because their family members are in different regions working.
Micro Trend 1
Furniture industries and dining services are restructuring businesses
Many furniture brands and dining services are re-strategizing their business and are turning their eyes on young professionals and adults that live alone.
Trends and Drivers that are Bringing Changes
Analyzing data to find common threads and logical inter-connectivity of trends to forecast implications of future scenarios in terms of time and likelihood.
Future Scenario A
Home will become a call button
Due to job polarization young Millennials are leaving homes and migrating to different places that offers better job opportunities and where there is demand for their skills. Economical, political and social trends are causing families and friends to separate and are becoming physically, psychologically and emotionally apart. Idea or feeling of what we perceived as home is now very different from what it used to be like in the past; home is no longer centralized in a location but spread across the globe in different parts of the world.
Predicted Market Size
$ 11 million Market Size
Millennials who are currently between 18 and 34 are the largest generational cohort in the United States that takes up about 24% of the entire population and is also a large population group in many parts of the world. Millennials are reaching their prime working and spending years and the impact on the economies will be significant. They are also the first generation of digital natives and their affinity for digital technologies will completely change how we interact with and experience the world.
Millennials take up about 14%(45 million) of the entire American population. Recently there has been a spike of millennials in major cities around the US; California 47.7% (Seattle 24.4%, San Francisco 7.7%). If we anticipate that 10% of the total Millennials are moving to search for better job and educational opportunities, that will equal to 4.5 million.
If we are able to grasp 1% of thos 4.5 million of Millennials, viable customer size will equal to 45,000 and $ 11million market size if we charge $ 250 per set units.
Cost of Production
WTP is expected to be 10-15% of smartphones
ChitChat will initially be sold as sets (2 units) and the initial offering price is set at $ 300 per set with delivery to 2 separate locations included. This product is an extension/accessory of smartphones and telecommunication devices. WTP (Willingness To Pay) is expected to be 10-15% of the price of smartphones.
Predicted Cash Flow
Break-even by unit 6,880 / 3rd batch
The business is forecasted to break-even by 5,111th unit and start profiting by 5,112th unit during sales of the 3rd batch after the first year after launching.