Viewpoints on Innovation

Video: What the Heck IS Innovation in Retail?

A Video Dialog Exploring Retail Innovation Types

Retail
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Innovation means different things in different industries. Watch this dialog to learn where innovation occurs in retail, and the importance of balancing innovation types.

Companies in industries like high-tech or industrial manufacturing think about innovation exclusively in the domain of product development. But in retail, the most influential innovation takes place in relation to interaction with customers. For retailers to drive the most value out of their physical and digital storefronts, they need to balance the three important innovation areas: product development, business model and customer experience.

Originally published on July 15th, 2015

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Topics: business model innovation, consumer experience innovation, customer experience innovation, Innovation, Innovation White Paper, Manufacturing, merchandise innovation, Process, Product Development, Product Innovation, retail, Retail Innovation, Retailers, Video

About the Author

Steve Riordan

Steve Riordan

Steve has dedicated his entire 30-year career to serving retailers and their suppliers, first as a retail executive and more recently as a partner and practice leader for several prominent consulting firms.
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