the same reason as any market needs to innovate : consumer trends and goals shift with the times. Let's take the most run-of-the-mill common bolt in the world

the same reason as any market needs to innovate : consumer trends and goals shift with the times. Let's take the most run-of-the-mill common bolt in the world as a product example : the 200 year old company that has changed to sell that run-of-the-mill bolt online w/ fast delivery and with a companion app has innovated without a product change. innovation doesn't imply a product change, it implies that a company is necessarily flexible to meet the shifting demands of consumers. This can be done in other ways than shoving newer and shinier products out the door.