Retailers are an innovative bunch. We adopt and trial new technologies at a more nimble rate that other verticals. In a world where shopper marketing, field marketing and consumer insights have all been merged into an unending list of “mobile path-to-purchase” solutions, the retailer gets an A for effort.
Before we celebrate our successes, let’s look at another vertical: Cities. Like stores, their consumers are changing, their services need to adapt. IBM invested approximately $350 million in smart city technology and marketing trying to reinvent the metropolitan centers globally and have perhaps made 10 % return on this effort. But 557,000 cities spend $4.5 trillion per year, 10% of the global GDP.