Simon Hill, founder of Wazoku, recently wrote an article for Retail Times on why idea management is crucial for the retail sector, focusing on the types of innovation and why people are key.
Expanding on that article, we’ve included two case studies that demonstrate how retail companies could have benefitted from innovation using specific case studies:
Starubucks invested a grand total of $25 million towards a new way for their customers to pay, but found that the implementation and roll out process caused a lot more snags and customer complains that they envisioned. Fast Company also recently reported that their response to such criticisms is that “innovation is messy”, but the truth of the matter is that innovation doesn’t have to be messy. This is a key example of where having an idea management system would have been in Starbucks’ benefit. With an idea management system, not only would Starbucks management be usefully connected into one community, despite their locations and ability to physically meet each other, but they would also be aware enough to fully implement the idea. Perhaps if the idea of Square payments had cropped up on an idea management system, real feedback from the baristas and the people who do the daily work, rather than just the concepts of people in Starbucks’ head office, would have existed. They might have been able to develop a roll out plan that worked effectively, but they would have a connected community culture that spans across multiple locations that would have made even complicated technological implementations much easier.
Earlier this year, Blockbuster was the next among many high street retailers to head into administration as referenced in our Retail Times article. While it’s difficult to say what could or couldn’t come out of Blockbuster’s administration and employees, one thing’s for sure. The online retailers that are currently causing Blockbuster a loss of sales, such as LoveFilm, aren’t without their own complaints and problems. With an open, innovative culture, Blockbuster could have utilised this opportunity to meet the needs of unhappy LoveFilm customers or designed a service similar to LoveFilm, but without the difficulties customers have experienced. After all, the concept of mailing DVDs in to return them was an innovative idea in and of itself. And as more and more people are watching films and television shows online, there’s plenty of space there for some new innovation from an old and trusted brand.
In both cases, these sectors could have widely benefitted from idea management software. Not only could it’s existence help you develop new products and services, respond to current demand, as well as help you with staffing and implementation of those products and services.
To learn more about what an idea management system entails, check out our guide on Guide To Idea Management For Business..