CART Weekly Report 5/16/19
CART , Advancing Retail
Gary’s Take: Target’s accelerator program is a way for the retailer to support new innovation that can (hopefully) ultimately help the company. But this type of approach only works for the largest retailers that can devote significant resources. An alternative approach is provided by Retail Tomorrow’s Headquarters Events program, an innovation program specially curated for the specific retailer. Designed for regional and national retailers, the program identifies areas of interest from the retailer, then draws upon thousands of new innovative solutions to filter and curate those most appropriate. The team also includes ‘black swans’, new game-changing capabilities that the retailer should have on their radar. The selected solutions are brought together for a day on-site at the retailer’s HQ for a day focused around learning. This is the most effective way we see in the market today for retailers to gain intelligent awareness to new innovation.
Gary’s Take: Supermarkets have indeed become hotbeds of innovation, as we see from the regular stories coming out about new technologies being deployed by big retailers like Walmart, Kroger, and Amazon. While these stories get all the coverage, it makes you wonder what’s happening across the regional and independent retail sectors… are these mid-size and smaller retailers experimenting with and deploying new capabilities? Many smaller retailers have already decided they can’t or don’t want to keep up with ever faster innovation. Yet at the same time I know many regional and independent retailers are doing some exciting things. I would love to hear from regional and independent retailers that are pursuing innovative capabilities! I think it is important for all of us to maintain a diverse industry - a mix of all size retailers - as we go forward. Innovation can be a costly game and anything we can do to promote and publicize impactful innovation by smaller retailers can only help tech companies and solution providers understand the opportunity at all levels of retail.
Sterling’s Take: There’s something to be gained here from the perspective. “What strategies should we follow” is different than “how can we best serve our customers.” When an organization starts to ask more questions like the latter, the more positive results follow. If we turn our stores into commodities (by being all tactics and strategies to maximize return) customers will treat us that way too. There is of course a place for all the tactics, but they’re most effective secondary to a culture that’s really about serving the human beings that shop with them.
Sterling’s Take: There are no rules in this game (only some laws). This is a great way to transform the delivery market and empower their people. 100% agree that Amazon only stands to gain to make sure that everyone that steps into this program wins.
FEATURED BLOG OF THE WEEK:
TEDx CHULA VISTA - How Leaders Innovate - May 25, 2019 at Southwestern College
CART Co-Founder, Sterling Hawkins will be speaking on How Leaders Innovate
DISRUPTIVE LEADERSHIP & THE SELFCARE REVOLUTION, Boston Immersion Event - Hosted July 17 & 18th, 2019
OUTLOOK LEADERSHIP - August 11-14, 2019 in Asheville, NC
The convenience industry’s premier, invitation-only event, that you cannot afford to miss. In a world of accelerating change, where we are going and how do we build our organizations to thrive there? Sterling Hawkins will take attendees on a retail journey.
C-Store operators can register today at https://outlookleadership.com/ using Invite Code: power
GROCERYSHOP - September 15-18, 2019 at the Venetian in Las Vegas
CART COMMUNITY - GET ON THE INSIDE. MEMBERSHIP HAS BENEFITS. Become part of the epicenter of retail innovation exclusive network. The place retail decision makers and solution providers come together to advance retail into the future.
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About the Author
CART is Advancing Retail by connecting the industry to innovation. Retailers, wholesalers and brands utilize CART to find, research and connect with solutions appropriate for their businesses. Solution providers use CART as a go-to-market tool that connects them directly to their target retail audience, all the way into the brick and mortar store itself. CART has unparalleled insight into what’s next in retail and shares this information regularly through multiple channels.
CART Registered Due Diligence:
First level due diligence ensuring the solution is valid and viable.