This company has a novel proposition: identify 5 items you like, select store, product size, color, etc, and allow the site to use your credit card. Free of charge, they will randomly select one of the gifts for you.

http://www.surprisegiftforme.com/

This post talks about Hipstery.com, a website where clients go through a personality profile quiz, and are sent a T-Shirt that supposedelly matches their personality.

This is similar to Shoedazzle.com, a site that after personality profile survey sends its clients 5 pairs of shoes.

Observers are noting that perhaps in a world full of choices, having someone else select a solution for you is considered added value.

CBIG asks: Is this a trend or fad?

This link presents a new application for heat sensitive materials, baby clothes.

The idea is to help new parents identify if the baby has a fever. It follows the trend of using heat or chemical sensitive materials to help customers identify product qualities. Other examples include Coors beer “cold mountain” and a fruit sticker that changes color when fruits are ripe

This wikipedia article provides a definition of Open Innovation, a term coined by Berkley professor Henry Chesbrough that basically means a company outsourcing innovation. Some consulting companies started playing in this field, providing a forum where experts and companies looking for solutions can interact. Examples include Idea Connection and TekScout, from Utek .

A subset of open innovation is Crowdsourcing, popularized by Wired magazine and described in details here.

Key insights:

1. An innovative approach to innovation
2. A new business model for consulting companies – who will become the new eBay of ideas?
3. Crowds can generate noise but can also generate innovation cheaply

CBIG asks: Will open innovation share the rise and fall of outsourcing?

Sports apparel manufacturer Columbia is launching a innovative option on its website – reused box shipping option. Clients can also log in to see the life cycle of the box.

Check details here

Insights:

1. if 60% of consumers are willing to go with used boxes, this is a great option in current frugal times.
2. saves money and improves brand image.
3. smart use of partner website to increase buzz factor.

CBIG asks – increased market awareness of environmental impact or sign of people trying to save money?

Reuters notices the introduction of Perky Jerky, the world’s first caffeinated jerky product.

Insights:

1. It seems the energy category keeps expanding.
2. Perky Jerky uses Guarana instead of Coffee – how will US consumers respond?
3. The company is trying to create online marketing buzz through several features in its website.

CBIG asks – will this be a hit with Chicago Booth MBA students?