What is Early Adopters?
Individuals who integrate new technologies into their lifestyle as soon as they are available - often well before the general public begins to use the technology.
The term early adopter refers to a person or business who uses a new product, innovation, or technology before others. An early adopter is likely to pay more for the product than later adopters but accepts this premium if using the product results in improved efficiency, lower costs, and increased market penetration, or enhances the social status of the early adopter.
Companies rely on early adopters to provide feedback about a product's shortcomings and to cover the cost of research and development of the product. Early adopters often become opinion leaders or influencers on new technology because they are the first to use it and provide feedback.
The best example of early adopters is Apple's first iPhone. When it was first launched in 2007, the iPhone cost $600. The price was quite high, as Apple had no experience in the industry.