Emerging companies harness advanced tech to innovate, launch new products, and adapt to inflation in consumer markets
New York, N.Y., February 27, 2024 - PRISM Mediawire - PRISM MarketView, a leading provider of unbiased market insight and company news, today announces the launch of its PRISM Emerging Consumer Products Index. As technologies advance, new innovative products are continuously being developed by emerging companies. These companies play a pivotal role in driving market dynamics and shaping consumer preferences while serving as catalysts for change by injecting fresh ideas to disrupt traditional norms with their inventive offerings. By leveraging new technologies, enhancement of product quality and functionality can revolutionize the consumer experience.
In an inflationary market environment, consumer product companies are finding it harder to continue passing on price increases to be absorbed by the consumer which has resulted in a reduction in consumer spending. This has motivated management teams to reshape their businesses to reignite profitability and drive growth. Additionally, acquisitions of next generation companies can provide immediate innovation to advance product features and capabilities.
The PRISM Consumer Products Index tracks small and micro-cap companies that are designing, developing, and marketing innovative consumer products in their respective sectors. Some of these participating companies are featured below:
Turtle Beach Corporation
The audio technology company, Turtle Beach Corporation designs and markets high-quality gaming headsets, audio accessories, and related peripherals for gaming consoles, PCs, and mobile devices. The company provides immersive audio solutions that enhance the gaming experience for enthusiasts and professional gamers alike. Recently, the game tech company announced its release of the VelocityOne Flightdeck Premium Simulation HOTAS which is a part of the company’s flight simulation product line.
Nu Skin Enterprises, Inc.
The global personal care product and supplement seller, NuSkin Enterprises operates in over 50 markets worldwide, selling its products through a network of independent distributors. The company offers a diverse range of skincare solutions, anti-aging products, cosmetics, and dietary supplements, all formulated with a focus on innovation and quality. Recently Nu Skin reported its fourth quarter and full year 2023 earnings results that topped Q4 sales estimates but provided its Q1 revenue guidance below expectations, resulting in a 12% share price decline.
Nuzee, Inc.
Beverage company Nuzee, Inc. specializes in producing and distributing high-quality, convenient coffee products. The company is known for its innovative coffee solutions, including single-serve pour-over pouches and other ready-to-drink options and focuses on sourcing premium coffee beans and employing sustainable practices throughout its production processes. In its recent full year fiscal 2023 financial results, President Randy Weaver stated, “As previously disclosed, we have begun a restructuring program which we expect to generate cost reductions in excess of $1 million annually. In addition to continued focus on controlling expenses, we are optimistic about improving revenue trends, with fiscal first quarter 2024 revenue showing a sequential improvement from the prior quarter."
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