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Innovation signifies an object or idea that enhances life instead of flooding it with headaches, distraction, confusion. And yet, all too often, that’s exactly what happens when marketers and companies throw tech at the consumer in the name of innovation.
Innovation done for the sake of innovation means little unless guided by the realization that true innovation simplifies life and allows humans to be, well, more human.
If companies, whether brick-and-mortar retailers or digitally-native startups, want to remain relevant to the consumer in the digital age, they need to realize that innovation means simplification. They also need to keep in mind that today’s consumer is highly connected and different from consumers of the past in how they shop and in what they expect from their shopping experience.
Even with the rise of ecommerce, brands must recognize that physical retail still has a place. Unless customers change their desire to physically interact with products as part of a memorable experience (unlikely), the physical component will always find a place in retail.
If willingness leads a company to innovate by blending physical and digital to elevate user experience and meet expectations, the company will find success. If not, they’ll join the rest of the companies in the dust that either ignored or misunderstood the true meaning of, “innovation.”
I this report, we uncover the insights driving this change and focus on the top brands leading the way.
At Latitude, we look to track and understand the emerging intersection of brands and experiences. Beyond brick and mortar, we focus on the holistic consumer experience [CX] as this is what truly dictates success and breakthrough in the rapidly changing world of today.
We would love to work with your team to see how we may be able to provide value. Learn more at Lat.co