Noise in 2006 is an innovation. Every commercial issue in 2006 was full of ads promising innovation if you only bought this or that product. I believe that innovation leads to competitive advantage, and I believe that innovation is the most important success factor in a highly competitive and networked retail business.

I also believe that this is the hardest thing a company can do on purpose.

Many successful companies tend to have cultures that innovate in organization, development, products, and customer service. While technology does not create this type of culture, it can make it happen. Technology can provide managers with the same version of truth across the company at the same time.

Technology can give retail companies the research tools to generate insights. Insights can lead to innovative and exciting consumer opportunities that encourage customers to walk through multiple stores to get to their favorite store.
Technology can enable savvy retailers to quickly take advantage of new consumer trends, such as: B. shifting to “Communities” such as MySpace, Facebook, YouTube, Citizendium, LinkedIn, and Second Life. Understanding what customers expect from you is very important, and more importantly, understanding who is making those expectations. This is insight.

Economic Recovery Insights

The main new technology currently touching consumers is widespread computer technology. In North America, the Internet already covers more than 70% of the population, and cell phones are more than two-to-one households.
Innovative Technology

Consumer lifestyle
So what are your customers and employees doing with this new technology? You create and join an online community. You are connected.

At first it was a very Web 1.0 blog. Then came the Web 2.0 community, which now has more than a billion dollars in business. The younger set is in My Space, which is already available on Helio Handy. Some have gone beyond MySpace and joined Facebook. Facebook claims to be a welfare program and most students until recently were open to everyone. New niches of the social community come and go out of fashion whimsical, but in general this need for connection is very similar to a long term trend. Several larger and more successful communities will exist as they continue to grow with consumers.