How do sales typically trend during the maturity phase?

During the maturity phase of a product's life cycle, sales typically experience slow growth or may even begin to decline. This phase is characterized by a saturation of the market, where most potential customers have already purchased the product. As a result, the rate of new customer acquisition diminishes, leading to a plateau in sales figures.

In the maturity phase, competition often intensifies, and firms may struggle to differentiate their products, resulting in price adjustments or increased spending on marketing efforts to maintain market share. While some products may experience a brief resurgence in popularity or niche markets may emerge, the overall trend is toward stagnation or decline in sales after the initial surge of growth seen during the introduction and growth phases.

Understanding this trend is essential for businesses as they may need to strategize for sustainability, including exploring product variations, improving customer service, or enhancing marketing to extend the product's life.