Thinking of innovation gives me thoughts about developing new products or services based on recent inventions or discoveries. Unfortunately that makes one forget about other opportunities to innovate something old that already exists on a “mature” market like developing new ways to offer, manufacture or advertise an ancient product. That kind of innovation is something that Mackmyra, a Swedish brand of whiskey has developed and based their business model on. The company is blooming and is noted on OMX Large cap and has today a stock market value of 105 MSEK. The business model is “low tech” but still pretty innovative in my opinion…

The company offers whiskey slightly above the price of an average bottle of “water of life” to customers sold in stores and they also sell larger amounts of whiskey in casks to restaurants and bars. BUT, the innovative side of Mackmyra is that they offer undeveloped whiskey in casks to private customers, which means that anyone can buy their own barrel of whiskey and have it aged in Mackmyras storage until it is finished i.e. aged correctly. In this way they differ from other liquor companies on the Swedish market because of their way of selling a product. This could be a great business opportunity as they offer a product combined with a service that provides great customer value. This makes the product much more of an experience as you get the benefits of being a whiskey maker without having to invest a lot of money. -You get to choose the characteristics of your whiskey, you will own the product during the time its aging and you will be able to treat yourself and your friends with hopefully great whiskey when the time is ready. This is an innovative approach of selling whiskey and I’m not sure if this is innovation in its true form, but since it is revolutionizing for the Swedish whiskey industry I would at least say that this business model really is innovative.

Do you have any examples of something similar in terms of ideas and innovation for traditional markets, or do you oppose my opinion regarding the innovativeness of Mackmyra..?

Liked it? Why not to share then?
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  

Leave a Reply

Post Navigation