Rate of Adoption

The rate of adoption refers to how quickly people start using a new product, idea, or technology once it becomes available. It measures how fast the adoption spreads through a target group or population. For example, when a new smartphone is released, the rate of adoption indicates how swiftly consumers begin purchasing and using it. Factors influencing this rate include awareness, perceived benefits, social influence, and accessibility. Understanding the rate of adoption helps businesses forecast sales and plan marketing strategies, while also providing insights into how innovations diffuse within society over time.