Consumer Tech's Resurgence: Brynn Putnam and the New Wave of Founders
Saturday, Nov 16, 2024 10:02 pm ET
4min read The consumer tech industry is experiencing a resurgence, with a new wave of founders, including Brynn Putnam, leading the charge. As the global economy recovers from the COVID-19 pandemic, consumer confidence is on the rise, and with it, demand for innovative tech products and services. This article explores the trends driving the consumer tech market and highlights the role of consumer founders like Brynn Putnam in shaping its future.
Inflation concerns are falling, and consumers are ready to spend again. According to a Kantar report, consumers are less worried about inflation and are more likely to engage in discretionary spending. This shift in consumer behavior is fueling growth in the consumer tech market, with AI-fueled software innovations and the rise in popularity of refurbished devices further driving demand.
AI is accelerating software innovation, with breakthroughs fueling the development of new device features and consumer tech manufacturers emphasizing their software capabilities. As hardware innovation stutters, 'halo' software features, powered by AI, are becoming increasingly important in driving sales. Consumers are responding positively to these innovations, with Apple and Google Pixel buyers seeking 'unique operating features' in their devices to a much higher extent than the market average.
Refurbished and used phones are also gaining popularity, with ownership volumes increasing by 70% over the past two years. In 2024, 14% of smartphones sold over the Christmas period across European 5 markets will be refurbished or used. This trend is driving the trade-in market, with retailers and manufacturers competing to offer consumers greater value for their old devices. Apple and Samsung are bolstering their direct refurbished offerings, aiming to steal share from third-party retailers like Back Market, eBay, and Amazon.
Brynn Putnam, founder of Mirror and Lululemon's fitness tech division, is well-positioned to capitalize on these trends. Her experience as a consumer founder has given her a deep understanding of consumer behavior and trends, enabling her to identify growth opportunities and create innovative products that cater to evolving consumer preferences.
Putnam's background as a professional ballet dancer has also influenced her approach to consumer tech. Her precision, discipline, and creativity have enabled her to create products that combine technological innovation with a focus on user experience and aesthetics. Mirror, her first venture, is a prime example of this, offering a smart, interactive fitness mirror that combines high-quality workouts with personalized coaching.
Putnam's ability to adapt and pivot has been crucial in her success as a consumer tech founder. She recognized the potential of at-home fitness during the pandemic, leading to the success of Mirror. Her investments in companies like ClassPass, which also caters to evolving consumer preferences for flexible, personalized fitness experiences, demonstrate her keen eye for identifying growth opportunities in the consumer tech sector.
The resurgence of consumer tech is being driven by a combination of factors, including improving economic conditions, AI-fueled software innovations, and the rise in popularity of refurbished devices. Consumer founders like Brynn Putnam are at the forefront of this trend, leveraging their understanding of consumer behavior and preferences to create innovative products that cater to the evolving needs of consumers. As the consumer tech market continues to grow, these founders will play a crucial role in shaping its future and driving its success.
Inflation concerns are falling, and consumers are ready to spend again. According to a Kantar report, consumers are less worried about inflation and are more likely to engage in discretionary spending. This shift in consumer behavior is fueling growth in the consumer tech market, with AI-fueled software innovations and the rise in popularity of refurbished devices further driving demand.
AI is accelerating software innovation, with breakthroughs fueling the development of new device features and consumer tech manufacturers emphasizing their software capabilities. As hardware innovation stutters, 'halo' software features, powered by AI, are becoming increasingly important in driving sales. Consumers are responding positively to these innovations, with Apple and Google Pixel buyers seeking 'unique operating features' in their devices to a much higher extent than the market average.
Refurbished and used phones are also gaining popularity, with ownership volumes increasing by 70% over the past two years. In 2024, 14% of smartphones sold over the Christmas period across European 5 markets will be refurbished or used. This trend is driving the trade-in market, with retailers and manufacturers competing to offer consumers greater value for their old devices. Apple and Samsung are bolstering their direct refurbished offerings, aiming to steal share from third-party retailers like Back Market, eBay, and Amazon.
Brynn Putnam, founder of Mirror and Lululemon's fitness tech division, is well-positioned to capitalize on these trends. Her experience as a consumer founder has given her a deep understanding of consumer behavior and trends, enabling her to identify growth opportunities and create innovative products that cater to evolving consumer preferences.
Putnam's background as a professional ballet dancer has also influenced her approach to consumer tech. Her precision, discipline, and creativity have enabled her to create products that combine technological innovation with a focus on user experience and aesthetics. Mirror, her first venture, is a prime example of this, offering a smart, interactive fitness mirror that combines high-quality workouts with personalized coaching.
Putnam's ability to adapt and pivot has been crucial in her success as a consumer tech founder. She recognized the potential of at-home fitness during the pandemic, leading to the success of Mirror. Her investments in companies like ClassPass, which also caters to evolving consumer preferences for flexible, personalized fitness experiences, demonstrate her keen eye for identifying growth opportunities in the consumer tech sector.
The resurgence of consumer tech is being driven by a combination of factors, including improving economic conditions, AI-fueled software innovations, and the rise in popularity of refurbished devices. Consumer founders like Brynn Putnam are at the forefront of this trend, leveraging their understanding of consumer behavior and preferences to create innovative products that cater to the evolving needs of consumers. As the consumer tech market continues to grow, these founders will play a crucial role in shaping its future and driving its success.
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