Who are “innovators” and do they matter?

Purpose This paper aims to bring together and evaluate the reasons that have historically been advanced to justify the heavy emphasis on innovative consumers within the general context of the adoption of products and services, and to assess the strategic benefits to be gained from targeting such market segments. Design/methodology/approach The approach is critical review and analysis of the published literature. Findings This paper finds that, although the benefits of identifying innovative early adopters are not as strong and clear‐cut as is often claimed, they are still sufficient to warrant further research into methods that will accurately identify them and predict their purchasing behaviour. Practical implications Targeting strategies should distinguish carefully between truly innovative consumers and other early adopters. The costs of identifying them in a particular market need to be weighed against the potential benefits. Originality/value Although many studies have attempted to address the question of what drives individual adoption behaviour, the rationale for that focus has not been well established and is rarely critiqued. In clarifying the situation, this paper should provide guidance for academic researchers and marketing planners.