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  "documentTitle": "iRobot Corp (IRBT)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Management",
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  "presentationDate": "2014-05-20 00:00:00",
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  "notes": "The slide uses data from an external survey to undermine the investment thesis for iRobot (IRBT).",
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      "text": "After a decade in existence, a 1% response rate is more indicative of failure than future opportunity",
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      "text": "1. Robotic Vacuums Are the Least Popular Model\nAfter a decade in existence, a 1% response rate is more indicative of failure than future opportunity\n2. Brand Has Little Importance To Consumers\nIRBT’s increased ad spending may have little success\n3. Brazilians Spend the Most Time Vacuuming\nIRBT Has Had Limited Success in Latin America",
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      "text": "market adoption: 1%",
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      "text": "In October 2013, Electrolux published a global survey on vacuuming. The study has profound implications for IRBT:",
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      "text": "Source: http://group.electrolux.com/en/wp-content/uploads/2013/10/Electrolux-Global-Vacuuming-Survey-2013-Full-report.pdf",
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      "text": "Two countries that spend the most time vacuuming per session: 1. In Brazil, 22% spend 1-2 hours... 2. In Portugal, 20% spend 1-2 hours... 3. Globally, an average of only 10% spend 1-2 hours vacuuming",
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      "kind": "table",
      "text": "Which Cleaning Appliance Best Describes Your Primary Vacuum Cleaner? 1. Bagged canister: 46% 2. Bagless canister: 17% 3. Bagged upright: 6% 4. Bagless upright: 7% 5. Corded stick: 1% 6. Wet/dry: 4% 7. Steam: 1% 8. Central: 3% 9. Robotic: 1% 10. None: 9%",
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      "kind": "table",
      "text": "Most Important Factor When Making a Vacuum Purchase: 1. dust pickup: 30% 2. power: 16% 3. quality: 15% 4. easy handling: 9% 5. price: 9% 6. electricity: 5% 7. sound: 5% 8. emptying: 3% 9. exhaust: 3% 10. weight: 2% 11. brand: 2% 12. design: 1%",
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      "text": "New Consumer Research on Vacuums Has Negative Implications for IRBT",
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