Innovation can take many different forms, such as product, customer experience, business model, service and process innovation. However, becoming innovative is not easy.
So how do they become innovative and sustain long term results?
- Foster a Commitment to Innovation, Starting at the Top
- Align Innovation with the Business Strategy
- Listen – Really Listen – to Customers
- Bring All the Stakeholders to the Table
- Test and Learn
- Organize for Innovation
Innovative retailers are those that excel at solving high-priority problems for their target customer and help meet unmet customer needs – often before the customer even knows they have the need!