Innovation In Retail 2019: Keeping It Real
Retailers’ attitudes about innovation have matured over the past year - and Retail Winners approach innovation completely differently than anyone else.
What are some of the highlights from this latest benchmark?
- 61% of Winners say they focus their brainstorming sessions on particular areas of the business based on an overall objective (only 36% of average and lagging retailers do this)
- Underperformers are FAR more likely to utilize free thinking when brainstorming new ideas (only 39% of Winners report using this method, compared to 64% of average and underperformers)
- The source of Winners’ motivation to innovate is rapidly changing, as well: 79% say their Board of Directors is now demanding innovative new ideas to help satisfy customers (vs. 44% of average and lagging performers)
- And when it comes to tech, Retail Winners cite new interfaces that incorporate voice recognition as their top priority (68% ascribe high value to this one tech). Robotics and microservices fall to the bottom of the long list of options we asked them to rank.
The full report is 23 pages long, features 20 charts and 6 pragmatic recommendations all retailers can follow. It is presented in partnership with the Vendors In Partnership (VIP) Awards, and is available for free to all registered RSR readers.
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