Keeping up with innovation
Keeping up with and making sense of innovation is no easy feat. It takes time, expertise and resources.
When it comes to innovation, retail and brand executives generally have three options:
- do nothing at all and continue to work on their roadmap as planned
- try to filter all the information themselves, but that is extremely time consuming and many do not have expertise in-house or resources committed to it.
- proactively chase down innovation which some larger retailers are doing by establishing internal innovation labs, but this is extremely costly and even with an internal innovation lab it is challenging to keep up with everything.
The Innovation Office offers a fourth option. The Innovation Office acts as an on-demand Chief Digital Officer, augmenting and taking some of the pressure off internal resources to keep up with and demystify emerging technologies in the retail industry.