Consumers’ busy lives and fragmented time make it more likely that they won’t be 100-percent focused on the task at hand when they shop. To keep up with them, retailers are increasingly finding they must innovate in ways that make it easier and more convenient for their customers to get what they need without missing a beat, according to Nielsen’s Continuous Innovation: The Key To Retail Success report, which found that convenience itself may be the most creative and energetic example of retail innovation.
Channel and format are the stand-out areas of retail innovation. Major examples include Teslo PLC’s f four different store formats in the United Kingdom that provide quick and easy service from urban centers to the outskirts of town, and Walmart’s overall testing of smaller Walmart Express stores in addition to its supercenters.
Read more about the need for continuous innovation and overall convenience in a business here.
