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vishakha Jangir
•
Set2Score • 1y
𝗧𝗵𝗲 𝗽𝗿𝗼𝗱𝘂𝗰𝘁 𝘄𝗵𝗼𝘀𝗲 𝗱𝗲𝘀𝗶𝗴𝗻 𝗵𝗮𝘀 𝗯𝗮𝗿𝗲𝗹𝘆 𝗰𝗵𝗮𝗻𝗴𝗲𝗱 !! That's a 🧷. In 1849, Walter Hunt created the safety pin using just a piece of copper wire—an innovative yet straightforward design intended to settle a $15 debt. He later sold the patent for $400, and remarkably, the design has barely changed since then. Think about it: cars have evolved, bicycles have been reinvented, and fashion trends constantly change. Yet, the safety pin remains nearly identical to its original form. ---- Despite its simplicity, the global safety pin market is valued at over $150 million annually, with demand spanning across clothing, medical, and packaging industries. The textile and fashion sector accounts for nearly 60% of total safety pin consumption, as they are essential for tailoring, alterations, and fashion emergencies. In healthcare, safety pins are widely used in first aid kits and bandages, contributing to 15% of total sales. The cost of manufacturing a single safety pin is as low as $0.01, yet bulk retail pricing allows for profit margins exceeding 200-300%, making it a highly lucrative product. ---- A reminder that brilliance isn't always about complexity; sometimes, the simplest ideas stand the test of time. Let me know if you have the same idea in your mind about any product. :)
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