Abstract:With the vigorous development of digital economy and the increasingly intensified market competition, the development of new products has become the key for enterprises to compete for the market competitive advantage. Based on the narrative perspectives, this paper explains the influence of co-creation signal on the observer's innovation and adoption intention in development of new products from heuristic and systematic paths. Through 1 field experiment to test the effect of co-innovation signal on willingness to innovate adoption, and 2 online experiments to test the mediation effect of similarity of consumer origin and cynicism and the moderation effect of regulatory focus, the data of subjects were collected and recruited to verify the construction of the model. Through three experiments, it is found that when consumers receive the co-creation signal, self-narrative can more effectively improve the innovative adoption intention of observational consumers, in which the similarity of consumer origin and cynicism play the dual-mediation effect. The regulatory?focus moderates the effects of co-creation signal on of similarity of consumer origin. The research conclusion expands the theoretical research of new product development. It is proposed that enterprises should pay attention to improving the consumers' willingness to innovate adoption, emphasizing the similarity between participants and observers when using innovative products , highlighting the interests of innovative products and the positive value they can bring to observers.