Top 5 Business Innovations Worth Trying in New Zealand
New Zealand has always been a country known for its natural beauty, vibrant culture, and diverse population. Nevertheless, the country is also emerging as a hub for innovation and entrepreneurship. As a result, many new business models and concepts are being introduced in the country that is worth exploring. Here are the top five business innovations worth trying in New Zealand.
1. Virtual and Augmented Reality
Virtual and Augmented Reality (VR/AR) has been gaining popularity worldwide, and New Zealand is no exception. Businesses can leverage this technology to offer immersive experiences and enhance customer engagement. A perfect example of this innovation is AR apps that allow prospective homebuyers to visualize how they can transform an empty property into their dream home.
2. Sustainable Business Methods
Sustainability is an essential aspect of any business. Nowadays, consumers are conscious of the impact of their purchases on the environment and the ecosystem. As a result, businesses are embracing sustainable business methods as a key competitive advantage. An excellent example of this is ‘Ecostore’ – a company that produces eco-friendly household product alternatives to the hazardous conventional products.
3. Co-Working Spaces
Co-working spaces are gaining popularity in New Zealand’s business scene. These workspaces provide opportunities for freelancers, entrepreneurs, and small businesses to share office space and resources. Co-working spaces are an affordable and practical solution that aligns with today’s “gig economy” trends. An example of this is ‘The Biz Dojo’ – a co-working space that offers shared offices, meeting rooms, and events to startup businesses.
4. AI and Automation
Artificial Intelligence (AI) and Automation have transformed business and work processes worldwide, enhancing efficiency and productivity. New Zealand has also been exploring and adopting these technologies to automate time-consuming tasks, reduce errors, and free up employee time to focus on complex tasks. An example of this is ‘Ask Nicely’ – an AI tool that automates customer feedback requests via email and SMS, based on the Net Promoter Score measurement.
5. Green Hydrogen
New Zealand is known for its abundant natural resources, including renewable energy sources such as wind and solar power. In recent years, businesses have been exploring the potential for Green Hydrogen, a zero-emissions energy source produced through renewable energy sources. An example of this is the ‘Green Hydrogen Project’ – a collaboration of three New Zealand entities working towards producing commercial quantities of green hydrogen.
In Summary, by embracing sustainable business methods, leveraging VR/AR technology, exploring AI and automation, creating co-working spaces, and exploring zero-emissions energy sources such as Green Hydrogen, New Zealand is becoming a hotbed of innovative business concepts and models. By implementing these innovations, businesses can improve their offerings, increase competitiveness, and boost revenue for long-term success.
