CONSUMER BEHAVIOR IN
RETAIL INDUSTRY
Culture
Align organization culture and innovation strategy to deliver superior results . Invest in building
supporting attributes (e.g. pride in the companys products and services; openness to ideas,
experimentation and ability to take risks)
Capabilities
Build a set of capabilities which are coherent to the business strategy
This includes ideation (e.g. customer insights, application of technologies) as well as development
related (e.g. controlled roll-outs, supplier engagement)
Process Discipline
Roll-out a structured and phased process that extends from innovation strategy to implementation
Develop and utilize supporting metrics to ensure compliance and decision making
KEY LESSONS FROM INNOVATORS IN INDIA
There are four key lessons that the innovators offer us,
bringing forth fresh perspectives on innovation in Indian
Retail