Magazine Article | June 20, 2016

Instilling A Genius For Innovation

Source: Innovative Retail Technologies

July 2016 Innovative Retail Technologies

By Ken Silay, Partner, Innovator’s Equation

Leadership and ownership are the key components necessary to drive innovation in the retail organization.

We have seen the future of retail, and we are not ready for it. We have been discussing omni-channel or some form of it for the last few years, and most organizations are still struggling with execution. In a recent published article in the Washington Post, the jury is even still out on the success of the poster child for omni-channel, buy online-pick up in store or click and collect. The article identifies that “fully 60 percent of such orders (click and collect) placed on Cyber Monday ran into problems, one study found. The wrong items were received, or orders were cancelled because the product was no longer in stock. Sometimes there was no notification an order was ready.” One shopper was quoted as saying, “I will never do in-store pickup ever again, that’s how bad it was for me.”