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.