If we think about technology, we mostly have recent developments such as Artificial Intelligence, Blockchain and Platforms coming to our mind. Nevertheless, many companies were able to generate large profits by reintroducing old technologies in their product range. Lately, technologies like polaroid cameras , record players and even the rotary telephone have returned to retail stores (TechTimes n.d.), but can every old technology be that successful again?
Is there a way to tell which technologies will be able to experience a successful comeback?
According to Lohr (2008), all technologies which returned to the market successfully have several features in common. Firstly, and also most importantly, the technology must have certain features and therefore a competitive advantage that the newer technologies do not offer (Lohr 2008). Nevertheless, the technology does not tend to return in its initial form but usually gets retooled and intergrated into a new business model to re-enter the market.
One reason for consumers to buy the so-called “Vintage Technologies” is that they are often more pragmatic and therefore focussed on their actual task (Tenner 2015). While especially older people might simply not want to keep up with new developments, the younger users may also find it beneficial to purchase simple technologies without unnecessary features.
Secondly, old technologies often get resold for their aesthetics and nostalgia. Polaroid cameras are a good example. Today, the cameras are available in many colors (Tenner 2015). On the other hand, polaroid cameras also maintained a competitive advantage over digital cameras, as they let you print a photo immediately and in a different style. Also, a smart business model has been built around the technology, marketing it as an elite vintage tool instead of as a pre-digital technology (Tenner 2015).
Lastly, technologies can be re-introduced as so-called rescue technologies, saving old formats such as cassettes and disks. Nevertheless, only little demand exists for saving old non-digitalized content.
Which technology do you think has a high chance of returning to the market? How could a successful marketing model around it look like?
References
Lohr, S. (2008). ‘Why old technologies are still kicking’. Accessed on 12 October 2019 on https://www.nytimes.com/2008/03/23/technology/23digi.html.
TechTimes (n.d.). ‘Obsolete and Outdated Technology that people still use today’. Accessed on 12 October 2019 on https://www.techtimes.com/photos/225444/20180420/obsolete-outdated-technology-people-still-use-today/4/.
Tenner, E. (2015). ‘Why People stick with outdated technology’. Accessed on 12 October 2019 on https://www.scientificamerican.com/article/why-people-stick-with-outdated-technology/.
