Creating an iconic brand — like Apple, BMW, or Nike — requires more than great design and technological breakthroughs. According to Soon Yu, the former Global VP of Innovation at VF Corporation, when something is iconic, it has three simple qualities: Distinction, relevance, and universal recognition. More from Yu in this live call replay, with audio and transcript inside…
The seven startups at XRC Labs’ 2017 Demo Day in New York represented the forefront of innovation in the retail space — from on-demand activewear manufacturing to indoor mapping services to artificially-intelligent visual search technology. In kicking off the demo day, XRC’s Managing Director Pano Anthos discussed some of the trends he is seeing in the retail space, and what retailers must do to stay relevant. Four of the trends he discussed are recapped inside, along with short descriptions of each of the presenting startups.
“Some organizations think that putting processes of innovation in place will ensure a culture of innovation,” says Sushil Borde, VP of Innovation at Reliance. “But they don’t focus on creating the environment or fostering innovative talent, and that’s where they fail.” We spoke with Borde to learn more about how the company is working to institutionalize innovation, the innovation programs he’s helped to create, and the five tenets that guide innovation at Reliance.
“I was trying to shove innovation down their throat,” says Edoardo Manitto of Groupe Galeries Lafayette, the 120-year old French retailer. “That, in my case, didn’t lead to anything very productive.” Here’s what he’s doing instead.
The idea behind the creation of the coLAB, as founder Greg Shewmaker explains it, is that “we know less about our food than we ever have at any other time in history. We want to do something about it. I don’t want to go sell more Greek yogurt or healthy products. I want to go do something big, and fix some big problems.” Photo gallery inside…
Many people think of American Greetings as a purveyor of greeting cards and party goods, but as Carol Miller describes it, the privately-held company is in the “meaningful connections” business, helping people make connections with family and friends. On a recent IL Live conference call, she shared her advice about building great teams that include both creatives and business-side employees.
Macy’s should “go small or go home.” Mark Nitkey, a former executive at Apple, Victoria’s Secret, and Ahold, explains how Macy’s should approach innovation in the Age of Amazon.
Retail innovator Ron Johnson on the Apple Store, SoulCycle, and his new approach to digital commerce
Johnson talks about companies blending digital convenience with an engaging offline experience — including the SoulCycle chain, Airbnb, and his startup, Enjoy. Johnson also shares some insights about launching the Apple Store concept while working for Steve Jobs, and how he may have tried to change things too abruptly as CEO of JC Penney.
At a new “lab” store in Manhattan’s Noho neighborhood, customers come in to peruse merchandise in the front of the store, and when they head to the fitting rooms to try it on, or to a counter to pay for it, they’re just a few steps away from the designers who work in the back half of the space. Photos inside…
“If you look at convenience, convenience means spending less time with a customer,” Pine said on a recent conference call with Innovation Leader members. “What I’m talking about is spending more time with a customer, where customers actually value the time they spend with you. Instead of time well-saved — a commoditized service — they view it as time well-spent. We spoke with Pine about how social media and virtual reality are changing the nature of experiences; Uber, Hilton, and Capital One; and more. 30 minutes of audio inside…
Victoria Scarborough, the Program Director for Sherwin-Williams’ seven-person Global External Innovation Team, defines her team’s mission as identifying outside “technology that would move the innovation needle.” Inside, she explains how they work and shares several slides…
The startups that pitched at last week’s Demo Day ranged from instant interior design services to pop-up boutiques to a smart mirror that could change your morning routine.
“One the biggest knocks against corporate venture capital initiatives is that they are often a by-product of a booming economy and a pet project of the CEO. They’re here today, gone tomorrow. This reputation, unfortunately, is grounded in some truth, but it doesn’t have to be that way,” writes corporate VC Kyle Fugere.
To test ideas and prototype designs, the world’s biggest furniture company built a model apartment in southern Sweden. It invites local families to move into the apartment and document their experiences with the experimental furnishings. Includes slides…
Chief Digital Officer Brian Tilzer discusses why the $37 billion retail and healthcare giant set up its new Digital Innovation Lab in Boston; how it connects with teams at CVS’ Rhode Island headquarters; and his thoughts on mobile payments, videoconferencing and collaboration, and in-store Bluetooth Beacon technology. Includes 40 minutes of audio from our recent Field Study visit…
Gap Inc.’s Dean of Global Innovation talks about creativity, co-creation, the Mindspark training initiative, and the importance of solving small problems first. Includes slides and 30 minutes of audio from a recent call.
A new small-format grocery store from $36 billion Dutch grocery giant Ahold that is integrated into a neighborhood streetscape may be the key to attracting a young, discerning urban shopper who frequents farmer’s markets or Whole Foods. We talk to one of the developers of the company’s new bfresh concept.
Rob Chumley’s mission: help 7-Eleven Inc. become more than just a quick place to stop for a sandwich and a Slurpee. “What we’re really focusing on now is this transition from convenience, which is defined by the products, to a convenient store, which is defined by the solutions it provides,” Chumley says. Here’s what 7-Eleven’s SVP of Innovation has been working on since he took on the role in November 2011…
In the 1920s, the average time companies spent in the S&P 500 Index was 67 years. Today, it’s 15. Many of the also-rans fell victim to linear thinking at a time when the business and technological landscape was changing exponentially. Kyle Nel, Executive Director of Lowe’s Innovation Labs, explains how his company is working to stay ahead of the curve. Includes slides and audio…
When he joined Staples as its Chief Digital Officer in 2013, Faisal Masud was surprised how much of its technology development the $22 billion office supplies retailer outsourced. Since then, he has embarked on a campaign to build up the company’s digital muscles — both through attracting new talent and by acquiring small startups.
Howard Schultz, the founder and CEO of Starbucks, had a vision that he’d been developing for a decade. He wanted to create a shrine to coffee in Seattle, the company’s hometown, where visitors could learn about the bean and the beverage, immerse themselves in the Starbucks brand, and watch as it “rained coffee beans.” VP Liz Muller was asked to make the vision real.
The $82 billion home improvement retailer opened the new site in January. One goal is to connect with students at Georgia Tech, but Home Depot exec Martin Key says they’re also exploring technologies that could impact the way people shop and the way store associates work. Includes videos.
Brian Tilzer says the $139 billion company is navigating two revolutions: omni-channel retail and what he terms “the digital enablement of healthcare.” It wouldn’t be possible without dialing up spending, and bringing new talent to the company. Here’s what he’s doing (includes slides)…
The authors of the new book “Frugal Innovation: share with Innovation Leader their six principles of frugal innovation, and an example from the book about how Kingfisher plc, the largest home improvement retailer in Europe, is working to move the needle on one of those principles.
Patti Streeper’s job at $3.9 billion Hallmark Cards is to help cultivate businesses that may not fit with the 105-year old company’s brand image — but ones that speak to new groups of customers. We talked with her about two examples: Easy, Tiger, a line of offbeat cards targeted at Millennials, and 5 Points, a pop-up retail concept that Hallmark launched last year.
Blaine Hurst, the Chief Technology and Transformation Officer at Panera Bread, explains how he worked with CEO and founder Ron Shaich to design and test the “Panera 2.0” concept, working out of a single cafe near Boston’s Fenway Park.
In March, the $9 billion videogame retailer created the GameStop Technology Institute to help it develop new experiences and offerings for the “empowered consumer.” Senior director of technology innovation Charlie Larkin gives us a look at their first project, launching this month.
Kyle Nel, the Executive Director of Lowe’s Innovation Labs, explains why the home improvement retailer created a comic book to help executives evaluate possible future scenarios. Nel also discusses why he doesn’t think labs should be located at corporate headquarters, and how his team is measured.
“Doing innovation in a large company is not always an easy thing,” says Steve Yankovich, VP of innovation at $6.6 billion eBay. Inside, he talks about how his team “graduates” its projects to business units, and why it’s so important to be able to kill low-potential projects. His insights, plus a video and infographic, are inside…
Director of Consumer Insight Karen Kricorian explains how Disney’s theme parks and resorts group approaches research. “When you think you know something,” she says, “that’s when you need to shake up your thinking.”
Innovation Leader regularly keeps innovation executives apprised of startups that merit attention, and we’ve found another one in Placemeter. Inside, we describe why this disruptive Manhattan-based startup (or one like it) may have an impact on global retailers and other large corporations.
Director of Adjacency Innovation Deborah Arcoleo lays out the four steps she uses to de-risk innovation initiatives, from assembling the best team possible to ensuring that key stakeholders at the company have contributed to the key measures of success.
Dean of Global Innovation Michael Perman explains how Gap Inc. has trained about 250 employees to be innovators, through a program called Mindspark. But Perman also asserts that not everyone in large organizations is cut out to innovate: “Not everyone is built that way, anymore than everyone should be an accountant.” Perman also outlines Gap’s current innovation priorities. Includes audio.
Nordstrom deployed a team from its innovation lab to the sunglass department at its flagship store in Seattle. Their goal: “the world’s first flash build” of a new iPad app for sunglass salespeople, over the course of a week. They created “user story maps” and paper prototypes. Here’s what happened after they were done.
Is there a duller visual environment than the typical airport gate area? San Francisco-based Benefit Cosmetics is trying to shake things up with a vending machine that looks like a mash-up of an ice cream truck and a Mary Kay Cadillac. The machines stock 30 of Benefit’s top-selling products. They’re in five airports now, with plans for 20 more by the end of 2013.