Magazine Article | October 20, 2017

Are You Overthinking Innovation?

Source: Retail Executive

By Jennifer DiMotta, President & Owner, DiMotta Consulting, LLC

Why applying innovative thinking through the brilliant basics of retail will render success.

Headlines like “Retail Apocalypse” and “Disrupt or Die” ignite the need for retailers to innovate urgently, but the reality is that retailers are not positioned well for significant innovation. With tight budgets and executives focused on immediate impact to fight declining sales, innovation ideas are quickly put on the back burner. Innovation most often is associated to a project that includes high costs, long timelines, significant resource demands, and no guarantee of immediate payoff — bites most retailers cannot swallow. So how do you infuse an attitude for innovation in an environment dominated by the “tyranny of the now”?