SUCCESSFUL RETAIL INNOVATION IN EMERGING MARKETS: Latin American Companies Translate Smart Ideas into Profitable Business
A study conducted by Booz Allen Hamilton for The Coca-Cola Retailing Research Council Latin-America:
How is innovation developed in the Latin American emerging markets? And, what is the role of consumers in these ventures?
True innovation in Latin-America is created not by targeting the wealthier and more sophisticated customers, but rather solving "impossible" value equations to serve the less favored. Innovative retailers have built sustainable and sizable businesses by meeting the needs of these vast segments in truly creative fashion.
We visited a wide array of retail formats - food\non-food; grocery; home appliances\furniture\home improvement; drugs; apparel; and personal and beauty care. Our findings identified how innovation in retailing drives leadership among consumers; the most common avenues to building innovation in different retail segments, and the key pillars from which retail innovation is driven. Innovative retailers were selected and studied individually, with cases developed for each one.