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Incubation as an approach to innovation

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Presentation from NRFtech 2018
Katie Finnegan, CEO and Co-founder, Spatialand, Principal and Founder, Store No 8, Walmart

Published in: Retail
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Incubation as an approach to innovation

  1. 1. Incubation as an approach to innovation Katie Finnegan CEO and Co-founder, Spatialand Principal and Founder, Store No 8, Walmart
  2. 2. THAT CHA NGES E VE RYTHING IGN ITE TH E CHANGE
  3. 3. So what is Store Nº8? — 3 —
  4. 4. — 4 — “ I have always been driven to buck the system, to innovate, to take things beyond where they’ve been.” - Sam Walton
  5. 5. So now you’re thinking… How does Store No 8 come up with all these great ideas? — 6 —
  6. 6. Our proprietary point of view on what the next generation of retail will look like and how technology can and will ultimately shape it. This is developed through analyzing and studying key elements influencing the landscape — 7 — FUTURE OF RETAIL POINT OF VIEW COMPETITIVE DYNAMICS EMERGING TECHNOLOGY TRENDS MACRO CONSUMER TRENDS
  7. 7. — 8 — A summary of key trends that are believed to impact future consumer behavior including who the customer will be, what they will want, how they want get it, and what they will value MACRO CUSTOMER TRENDS COMPETITIVE DYNAMICS ▹ Examined and analyzed empirical economic, demographic, and generational trend data ▹ Considered a variety of projections and white papers from consultants, academics, and economists ▹ Interviews with esteemed futurists, thought leaders, academics, and key business leaders EMERGING TECHNOLOGY TRENDS MACRO CONSUMER TRENDS
  8. 8. MACRO CONSUMER TRENDS — 9 — A summary of the key technologies that have the potential to have a material impact on retail landscape—spanning from customer touchpoints to internal operations EMERGING TECHNOLOGY TRENDS ▹ Researched and analyzed perspectives of academics, venture capitalists, consulting firms (Bain, Accenture etc.), and technologists ▹ Developed a timeline for each technology to understand current state of maturity and projected time required to jump from one phase of maturity to the next COMPETITIVE DYNAMICS EMERGING TECHNOLOGY TRENDS
  9. 9. — 10 — Ongoing research into other retail and technology players (both large and small) to help us identify, triangulate, key trends that the market may influence and how that may ultimately impact customer expectations COMPETITIVE DYNAMICS EMERGING TECHNOLOGY TRENDS ▹ Keep a constant pulse on patent applications ▹ Staying up to speed on analyst reports and market announcements ▹ Internal proprietary SWOT analysis of the key players in the market MACRO CONSUMER TRENDS COMPETITIVE DYNAMICS
  10. 10. — 11 — FUTURE OF RETAIL POV We combine these insights into a integrated point of view as to what the future of retail will look like in 5-10+ years. The exercise summarizes our POV on: • Key shifts in the customer experience expectations & how they will shop • How goods will get to the customer, and at what service level • Future changes in product mix, margin structures, and supply chain • And ultimately, a summary of the key threats and opportunities that exist in retail, and suggested timelines for impact FUTURE OF RETAIL POINT OF VIEW
  11. 11. — 12 — Once we have our strategy… How do we execute?
  12. 12. HOW WE INCUBATE — 13 —

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