How NOT to launch a physical product

[Eskil]

I saw this the other day and couldn't believe what I was reading.

This is pretty much a text-book example of an idea that may have sounded good on paper, got lots of investors interested, then failed miserably because of terrible execution - and as as result - a product that no one would buy;

Juicero, maker of the doomed $400 internet-connected juicer, is shutting down

Essentially, this company decided to go for a subscription model on juice, delivered to your door. Not bad you think? Yeah the idea isn't bad, if it had been done right.

But these guys thought it was a good idea to instead of just selling subscriptions to juice - they would also force customers to have to buy a SEVEN HUNDRED DOLLAR proprietary "internet connected" juice machine that you HAD TO use for their juice packets....! Lol wut?

When they started taking flak for the ludicrous price point, they lowered it to $400 (still a joke), for what was not a juicer...but a machine that only squeezed the juice out of the packets for you instead of using your hand to do the same. Yep, you read that right. Their "keurig for the juice market" was nothing but an over-engineered "connected smart device" that literally did nothing but squeeze packets of juice into your glass... Amazing.

Well that's not entirely true. The machine also did scan a qr code on the packets and could "track" your use and let you know when it was time for you to order more of their entirely proprietary juice packets. Which, by the way, contained only a set of certain flavor choices so people could not even mix and make their own juices (which one would think there would be great potential for here but they totally missed the boat on that one too).

EDIT: Oh and guess what each packet of juice cost? $0.75? $1 maybe?
Nope.... each juice packet (ONE glass serving) cost between $8 - $10

Lol....

The kicker? This total flop raised $120 Million (!!) from VCs and investors..
Insert facepalm here.

Some lessons to be learned from this;

• Think through your idea REALLY well before executing on it. If need be, do some user surveys, polls, seek market validation, or use focus groups that can tell you before hand that your idea smells worse than rancid diapers.
  
  
• If you're launching a subscription service or a "keurig" type product service (nothing wrong with that model) with consumables, focus just as much on usability and beneficial VALUE of the hardware, and not just impressive engineering with "smart / connectivity". The last part might impress an investor or two, but users will quickly figure out if your device is virtually useless to them
  
  
• Price point. $700? Then "only" $400? What? What they could have done here is taken a loss on the device, dropping it to say $99, and instead made up for it in sales of juice packets. And not only that, also made the juice packets so that they didn't HAVE to be used in the machine but could be squeezed easily by hand, by kids and old people with no hassle - and not required the machine altogether.
  
  
• This opportunity for a subscription service could have been awesome with customization options, nutritional recipes, nootropic additives, sports juices, energy juices, etc. etc all delivered to the customers door. But no, these guys put all their energy into making a "cool" device.

Maybe someone here can take this idea and do it properly

 

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