People make mistakes, and businesses make mistakes. It’s something that happens, and there’s little you can do to avoid it. We can spend considerable resources weighing risks, but in the end, sometimes you just need to take a stab at a project and see what happens. If you’re not careful, however, you can screw up majorly. Product failures and flops exemplify this perfectly.
Sometimes, a company releases a new product or service that changes things forever. Companies, such as Apple, Google, and Uber, have all done this over the past decade or two — numerous times, in some cases. Other times, a concept doesn’t take off. It might be because it was a bad idea in the first place, or perhaps it was ahead of its time.
Product failures and flops
There’s a pile of failed or flopped products out there we can look back on with 20/20 hindsight and see they were doomed from the get-go. Or, in some cases, we repackage and try to sell them again.
There are numerous examples from just the past five years, from tech to food. With so many new technologies and innovations out there, entrepreneurs and big businesses have been experimenting with all kinds of new products and services, with many becoming big hits with consumers. Others were not so much.
Here are 15 failed products and services that have flopped in the past five years. Did you buy one?
1. Samsung Galaxy Note 7
Although it might be a bit premature to say Samsung’s smartphone, the Galaxy Note 7, is a failure or flop, it’s certainly had one of the worst debuts in recent memory. The reason being that consumers have reported the batteries spontaneously catch fire. This led to massive recalls, and millions, if not billions, in lost revenue. It’s not clear whether the product will be able to recover and whether Samsung will be able to regain momentum when it releases the Galaxy Note 8.