In a consumer driven economy like that of the United States, companies grow and thrive by regularly introducing new and innovative products. Every year, businesses — ranging from small startups to global industry titans — release countless new products in the hopes of grabbing market share. Some strike a chord with consumers, and some do not.
24/7 Wall St. reviewed some of the greatest recent product launch blunders to identify the biggest product flops of the decade. We selected these products largely considering the expectations that companies, investors, and consumers had placed in them — and how far short they fell. The products cover a range of industries, including tech, auto, fashion, media, and food and they are not ranked in any particular order.
There can be any number of reasons a product becomes a flop. Many of the products on this list came late to an already crowded field, offering too little too late to gain any significant traction with consumers. In other cases, products marketed as innovative and revolutionary were ultimately exposed as scams, effectively. Other products on this list simply did not provide anything American consumers were looking for, and others still were downright dangerous.
For companies to be successful, they often have to take some risks. Many of the companies behind the failed products on this list are leaders in innovation and invest heavily in research and development. These companies, while notable for their failures, are more recognized and often revered for their successes. Here is a look at the world’s 50 most innovative companies.
Still, a major product flop can be harmful not just to a company’s bottom line, but also to its reputation. Some companies on this list have suffered tremendously for their missteps — either by going out of business, or by falling out of the public’s good graces. Here is a list of America’s most hated companies.