Rapid Response: Stay versatile, w/Lululemon Athletica CEO Calvin McDonald
Masters of Scale
00:00
The Future of Retail Innovation: Needs vs. Wants
Retailers can be separated into needs versus wants categories, with the latter expected to be more innovative and leading./nRetailers selling needs can be complacent and not innovators because guests need what they sell./nThe food industry is an example of a needs-based industry that could be more innovative but may not need to be./nInnovation is necessary for retailers in the wants category to be successful and competitive./nThe 'omni revolution' and seamless experience between stores and digital is becoming an expected standard for guests.
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