Innovation in the UK Retail Sector - Nesta
Innovation in the UK Retail Sector - Nesta
Innovation in the UK Retail Sector - Nesta
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
<strong>Innovation</strong> <strong>in</strong> <strong>the</strong> <strong>UK</strong> <strong>Retail</strong> <strong>Sector</strong><br />
f<strong>in</strong>ancial measures. Corporate level measures may assess, for <strong>in</strong>stance, <strong>the</strong> overall <strong>in</strong>put of<br />
f<strong>in</strong>ancial of non-f<strong>in</strong>ancial resources <strong>in</strong> new <strong>in</strong>itiatives such as <strong>the</strong> development of new<br />
ranges of product, new retail formats or <strong>the</strong> impact of mov<strong>in</strong>g <strong>in</strong>to new markets.<br />
7.15 Overall product-related <strong>in</strong>novation measures appear most developed and most commonly<br />
used. In general most retail measures are non-specific, adapted to measure <strong>in</strong>novation or<br />
mostly its ‘hard’ benefits - for <strong>in</strong>stance <strong>in</strong> areas like NPD, where <strong>the</strong> <strong>in</strong>novation process<br />
resembles <strong>the</strong> l<strong>in</strong>earity characteristic to <strong>the</strong> patterns of <strong>in</strong>novation found <strong>in</strong><br />
manufactur<strong>in</strong>g. Much less susceptible to measurement are <strong>the</strong> process, wider service<br />
<strong>in</strong>novations and organisational <strong>in</strong>novations undertaken by retailers - those associated with<br />
change, process design, market<strong>in</strong>g or tra<strong>in</strong><strong>in</strong>g and development. Accord<strong>in</strong>g to some of<br />
our <strong>in</strong>terviewees, <strong>the</strong>se <strong>in</strong>novations are not sufficiently understood, nor are <strong>the</strong>y<br />
sufficiently measured. In terms of timescale most of <strong>the</strong> discussed measures of <strong>in</strong>novation<br />
are relatively short-term, often follow<strong>in</strong>g <strong>the</strong> retailers’ plann<strong>in</strong>g cycles and frequently do<br />
not account for <strong>the</strong> longer term effects or commercial benefits of <strong>in</strong>novation like learn<strong>in</strong>g<br />
or new competence build<strong>in</strong>g (Hristov, 2007).<br />
Page 53