With the passing time, the business model in the retail segment is getting more complex. Online business is already popular among masses. However, even now a majority of the population still purchases from the physical stores. Evolution has dominantly happened on the back of technological innovation. The present case of how Walmart and Amazon are transforming is on the same line as well.
Gone are the days when the retail outlets got overcrowded before the Diwali season or the Black Friday sale. People are now more adept to online purchasing. The total internet economy is constantly on the rise. It’s estimated that it will reach around $215-265 billion (7.5% of GDP) by 2020 from the current figure of $100-130 billion (around 5% of GDP). This means that by 2020, there share of the pie in online purchasing will increase as well. Continue reading “Online E-commerce to transform into brick-and-mortar outlets”
It was a typical day for Alice (name changed) at her home. She was busy doing her household chores and looked outside her window at the green field. It was then that it suddenly struck her!
I’m sure that like Alice you have had your “Eureka” moments in your life. Since we come across various incidents, people, problems daily, it’s very natural to come up with a solution for a definite problem which could be a game changer in the market. And if curated properly, might become “The Billion Dollar Idea”.
Did you receive any news feed on X company acquiring company Y? Have you ever wondered why is it necessary for organizations to acquire other companies when they can develop that capability within their org? Why do companies spend a million (or sometimes a billion) dollars to acquire another company?
Has “innovation” or “creativity” been one of the talking points in your last leadership meeting? Has your VP called you recently and asked you to create an innovation index to gauze your team’s performance? Continue reading “Think You’re Cut Out For Doing Innovation?”