It's no exaggeration to say that the retail experience is being transformed by technology. Some of the innovations are highly visible — sophisticated mobile devices, interactive digital signage and virtual reality (VR) goggles, to name just a few. Some are hidden, like the multitude of RFID tags that streamline supply chains and make real-time inventories accurate. But enormous or minuscule, customer-facing or out of sight, such innovative solutions are moving from a "nice to have" extra and into the category of a "business basic."
Download this Retail TouchPoints special report to discover that there are many paths to finding — and harnessing — the power of innovation:
- Retailers can establish their own innovation labs, following the lead of brands that include Walmart, Zappos, Neiman Marcus, Lowe's, Staples and Sephora.
- Retail executives can serve as mentors at innovation organizations such as REVTECH;
- Brands can provide sponsorship to innovation incubators such as XRC Labs; and
- Retailers can pay close attention to the contests and demo programs run by organizations such as CART (Center for Advancing Retail & Technology).