“From Disasters to Duds: The Failed Products That Tanked Giants’ Fortunes”
Customers questioned why they should drink room-temperature milk when they could make their own cereal in about the same amount of time. Breakfast Mates charged more for the convenience, which many people didn’t see. Plus, the advertising showed customers eating it at home, not on-the-go.
Netflix Was Primarily A DVD Rental Service
Before Netflix streamed shows and movies, it ran a DVD rental service. In 2011, the company turned its focus to streaming and moved its rentals into another company called Qwikster. When the separate entity came out, though, customers were not happy.
Netflix’s new model charged customers for both streaming and rentals. After receiving backlash, CEO Reed Hastings dropped plans for Qwikster but kept billing for DVD and streaming separate. Netflix lost 600,000 subscribers during this year, and Qwikster quickly faded into oblivion.
Virtual Boy, Nintendo’s VR Failure
In 1995, Nintendo released a 3D game console called Virtual Boy. The console looked like a modern VR set, with red goggles and a controller. Twenty-two games were available for Virtual Boy, but the console left the shelves in 1996.
The technology was not good enough for what was essentially virtual reality. Virtual Boy only showed red and black colors, and players suffered from eye strain. Only 770,000 copies sold before Nintendo switched focus to the N64.
Life Savers Soda Tasted Like Candy
It seems that almost every food company dipped its toes into the soda industry. In the 1980s, Life Savers invented sodas that mirrored that candy flavors–pineapple, lime, grape, etc. Although the beverages fared well during taste tests, they didn’t perform on the market.
Life Savers Soda rarely sold because customers couldn’t separate the candy from the drink. Many claimed that the drinks were like “liquid candy.” You will not be able to find any Life Savers drinks today.
Lululemon’s Translucent Astro Pants
Lululemon is known for pricey, high-quality athletic wear. But in 2017, their new yoga pants landed them in hot water. The $92 Astro Pants pants were see-through, according to dissatisfied customers.
In response, Lululemon recalled the pants and re-released them. But the new Astro Pants were still too sheer and maintained the $92 price tag. To make matters worse, co-founder Chip Wilson claimed that the pants became sheer because of “rubbing through the thighs.” Sales plummeted, and the Astro Pants are no more.
Despite All The Hype, The 1957 Ford Edsel Failed
September 4, 1957, was “E-Day.” Ford had spent the entire year promoting its new Edsel model, and they hyped up “E-Day” as its official release date. Although Ford made 18 versions of this car, they lost $250 million on the project. The Edsel stopped selling after two years.
What went wrong? For one, the Edsel was far more expensive than the average Ford. The price tag ranged between $2,500 and $3,800. Many people didn’t like the look of the car, either.
