Clicks or bricks, or clicks and bricks? Tick, tock, tick...

Which of these two statements comes closer to your own view? The internet is both the greatest threat and the biggest opportunity for Builders' Merchants. Or, my family buys music, books, and holidays on it, and we do have a company website, which you have to have these days, but I can't see it becoming that important in building supplies.

How you see it, may say something about your age, or it may accurately describe the limitations of the internet. More likely your view reflects your attitude to new ideas and technology.

Peop[le differ markedly in their readiness to try new products, adopt new ideas or accept new technology. Their response tends to cut across conventional categories of class, wealth, sex or age and the population can be usefully categorised by its reponse time to innovations, new products and technology.

What are you?

So called 'Innovators' are few, accounting for just 4% of the population, but they are always first to try new products. They are excited by novelty, forgiving of its faults, want to know all the details, and are prepared to pay high prices to be first.

'Early Adopters', about 13% of the population, are close behind the Innovators in buying the product and spreading the word. They prefer to let the Innovators take the early risks of ownership, but are interested and receptive to new technology and will still pay a premium for novelty. They like to be seen to be ahead of the game.

Once the product is proven the 'Early Majority', generally a third of the population, are happy to adopt it. They are less interested in the product or technology itself, but a re pragmatic about the benfits and down to earth about price.

The 'Late Majority', also around a third, are cautious and come into the market when everyone around them has one and the technology is established. They don't want to know how it works, are hard to impress and just want the benfits reliably and cheaply.

The 'Laggards', around 16% of the population, are suspicious of anything new and need convincing before they buy. they are largely immune to excitement in the product. What's wrong with the old ways? They may resent having to buy it at all.

As if by magic

Markets and the introduction of new ideas grow fast in the beginning as they are taken up by the Innovators, and Early Adaptors. They slow as the new technology, product or idea spreads to the Early Majority. They slow even more as they finally get taken up by the Late Majority, and eventually wind down as the Laggards come into the market.

Those suppliers who get established early on with new products, new ideas or new technology may find it a fast bumpy road in the early days. But they gain from a steep learning curve, and are usually found among the market leaders of tomorrow. Being in the right place, at the right time, with the right idea is the strongest magic for a balance sheet.