A retailer’s guide to developing an innovation mindset
Retail innovation is highly affordable today. So why are retailers still resisting it?
In today’s episode, Jeff Roster, Strategic Retail Advisor with over 25 years of experience, joins Diane Burley to discuss the dangers of the industry’s conservative approach to innovation. Roster highlights why the pressure on adopting new technologies to differentiate is greater than ever, as shoppers have increasingly come to expect personalized journeys and memorable brand experiences.
As Co Host of the retail podcast This Week In Innovation, Jeff believes that to stay competitive in the retail industry, companies need to adopt an innovation mindset and a culture where employees across departments are “comfortable with …failing”.
“My entire worldview is based on looking at life through a retailer's eyes and looking at life through someone that has to understand costs.” - Jeff Roster
Listen and learn how retailers like you can leverage technology, alongside talent to reach your revenue targets.
Topics we cover:
2:45 How has a background in small retail influenced Jeff and his career?
5:08 Why can good technology be superior to good talent?
7:35 How can retailers get through the “marketing noise” of technology vendors and determine which solution is best?
10:42 Should retailers be more conservative or proactive when it comes to adopting new technologies?
13:15 How are the management and people processes evolving with technology?
16:00 How can retailers maintain loyalty when customers can easily compare and switch?
16:37 How can decision makers put themselves in the shoes of retailers?
17:38 Why are retailers so resistant to adopting technologies which create a frictionless experience?
21:06 Which segments and companies are innovating well in the retail space?
23:38 How can retailers improve the buyer’s journey by innovating both in-store and online?
26:34 Why is it important that retailers collect data across multiple channels and then act on it?
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Episode 15
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