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The Characteristics of Retail Innovation

Yongquan Hu

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Abstract

Retail innovation is a management process which retailer seizes marketlatent profit opportunity,recombines operation conditions,essential factors and organization.The goal is to achieve greater efficiency with lower production costs.Based on the world's major retail enterprises in retail innovation practice,this paper discusses the characteristics of retail innovation,including the autonomy of main body,the continuity of process,the strategic of objectives and customer's participation.

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What this paper is about

Retail innovation is a management process which retailer seizes marketlatent profit opportunity,recombines operation conditions,essential factors and organization.The goal is to achieve greater efficiency with lower production costs.Based on the world's major retail enterprises in retail innovation practice,this paper discusses the characteristics of retail innovation,including the autonomy of main body,the continuity of process,the strategic of objectives and customer's participation.

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Available abstract

Retail innovation is a management process which retailer seizes marketlatent profit opportunity,recombines operation conditions,essential factors and organization.The goal is to achieve greater efficiency with lower production costs.Based on the world's major retail enterprises in retail innovation practice,this paper discusses the characteristics of retail innovation,including the autonomy of main body,the continuity of process,the strategic of objectives and customer's participation.

Key concepts: Business, Profit (economics), Autonomy, Retail industry, Marketing, Retail sales, Industrial organization, Process (computing)

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