The technology adoption lifecycle is a sociological model describing the adoption and acceptance of a new product or innovation, according to the demographic and psychological characteristics of defined adopter groups.
The process of adoption over time is typically illustrated as a classical normal distribution or bell curve chart.
The model indicates the first people to use a new product are called ‘innovators’, followed by ‘early adopters’. Next come the ‘early majority’ and ‘late majority’, and the last group to eventually adopt a product are rather unfortunately labelled ‘laggards’.
The innovators and the early adopters benefit disproportionately positively over the product lifecycle due to their decision to lead. As the growth curve develops over time people seeking the product tend to go with these groups as they have more experience than early majority’ and ‘late majority’ groups. Market share over time then rewards those first to move.
The decision to back new technologies involves risk and as such requires the will to investigate and the ability to assess wider potential future adoption.
Therefore, insight to similar new products and their adoption and acceptance track record will be key.
There is nothing new about how attractive reducing waste is to consumers; they vote with their wallets. The Deloitte sustainability and consumer behaviour survey report 2021 showed consumers not only care about sustainability, but it’s also a major influencer on their spending.
There is also nothing new about reducing the amount of paper receipts in hospitality, the email option being one solution.
What if just like ‘Tap and Pay’ the option was available to consumers to ‘Tap and Receipt’, no need to take email addresses, just enabling the customer to wave their mobile phone over a receipt terminal and store that receipt to the cloud.
The solution to ‘Tap and Receipt’ for hospitality is being unveiled at Coworth Park on Wednesday 13th April at a H&C News Technology and Sustainability Roundtable between 09.30 and 11.00.
Delegates will attend a live demonstration of the technology and be able to ‘kick the tyres’ of the solution with the developers, as well as discuss how it can be seamlessly integrated into existing networks. Tea and coffee will be served from 09.00 with a working brunch from 11.00 to engage with likeminded peers.