Innovation & Institutions, Will it Blend?
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Innovation & Institutions, Will it Blend?
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Even the stodgiest retailer can win over millennials - Not your father's RadioShack

Even the stodgiest retailer can win over millennials - Not your father's RadioShack | Innovation & Institutions, Will it Blend? | Scoop.it

One store no longer fits all. 
     
Today’s millennials—nearly 80 million individuals in the United States alone—represent a staggering force in today’s marketplace, spending roughly $600 billion each year. And their impact is only expected to grow through 2020, with estimates their total spending in the US will top out at nearly $1.4 trillion annually. 
     
Despite this, most retailers today are millennial-challenged...


Highlights:


  • Unlike previous generations that struggled to price and comparison shop, millennials have it down to a science, using sites like Hukkster.com to find unique products and discounted rates at the click of a button.
    
  • Showrooming:  ...Millennials, looking at products on the retail floor and then turning to the internet to make their actual purchase at the lowest price is a way of life. But retailers can’t afford to simply turn their stores into showrooms.   ....To survive, they must change their in-store experience—and fast. 
    
  • The sale doesn’t end at the register
    
  • Understanding how [your] brand and products fit into the broader fabric of their lives.


Read more here.
   

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Deb Nystrom, REVELN's insight:

I, for one, loved the Superbowl ad and all the in-your-face 80's iconic flashback  For two:  this article covers the complexity of bricks and mortar, showrooming, price shopping and the ongoing relationship with mobile- and tech-savvy millennials and anyone who uses tech as their right hand for shopping research.  ~  Deb

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Gary Hamel & Hacking in the MIX: the Management Innovation eXchange

Gary Hamel & Hacking in the MIX:  the Management Innovation eXchange | Innovation & Institutions, Will it Blend? | Scoop.it

The recession, debt crisis and general social chaos that we are living with at the moment is generating BIG questions.


One of the best management mavericks is Gary Hamel who is also the figurehead behind the Management Innovation eXchange or MIX.


MIX is a management social network that allows business people to share ideas, identify barriers and propose (management) hacks.


It’s aim is simple, if we collectively add ideas – crowdsourcing – we will understand the systemic problems better and find solutions quicker.

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Paul Conneally: Digital humanitarianism | Video on TED.com

TED Talks The disastrous earthquake in Haiti taught humanitarian groups an unexpected lesson: the power of mobile devices to coordinate, inform, and guide relief efforts....



Paul Geisen illustrates hand-held, mobile technology and open source software as new, powerful humanitarian tools for disaster response including coordinating efforts. Collaborating.
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