Retail is one of the most innovative markets, according to latest Boston Consulting Group study published by visualcapitalist Of course big tech companies are leading the list and car manufacturers are also working hard to innovate.
Boston Consulting Group surveyed over 1500 innovation executives to rank the top 50 most innovative companies based on 4 variables:
- Global Mindshare
- Industry Peer Review
- Industry Disruption
- Value Creation
Retailers such as Target and Walmart are the most innovative in supermarkets, but tech giants such as Amazon or Alibaba are launching new concept stores in a strong competition in this food market. Both tech companies launched their own physical supermarkets with automated check-in and check-out. No lines / queues while you’re shopping.
Other retailers such as Ikea, Fast Retailing (Uniqlo) or Inditex are also included in the top 50. These companies are also coming from traditional business models and they are changing the customer experience and their entire business through innovation and disruption.
There are a lot of opportunities with traditional retailers and leading tech companies. Both of them are launching new interesting store concepts with in-store digital solutions to improve the customer experience. Digital signage, self check-out or automated check-out and frictionless solutions among others, are some examples of their top solutions to make innovation happen in the store… but this is not about technology anymore, so be creative in your store.
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