As the retail landscape changes seemingly daily, what does the future of innovation in retail look like?
Retail moves fast. Customer expectations change quickly, margins stay tight, and competitors can copy a product or promo almost overnight. That’s why many leading retailers don’t rely only on leadership brainstorms or outside consultants for new ideas. They pull insights from the people closest to the work: employees, customers, vendors, and partners. Crowdsourcing in retail is not just “collecting suggestions.” When it’s done well, it becomes a practical system for
Back in 2008, Starbucks launched their crowdsourcing platform, “My Starbucks Idea”.
Innovation programs are far from being a one-and-done endeavour but rather solid and continuous. So how do you accelerate and scale your company’s innovation process efficiently? Here are some valuable tips from our favorite innovation leaders.