SUCCESSFUL RETAIL INNOVATION IN EMERGING MARKETS: LATIN AMERICAN COMPANIES TRANSLATE SMART IDEAS INTO PROFITABLE BUSINESSES
Latin America, 2006
What role do consumers play in leading retail innovation? How does successful innovation in retail translate into effective business? This report by the Latin America Council identified and assessed cases of true consumer-centered innovation that originated and have been successfully implemented in Latin America. However, the report’s findings may be applied to the retail industry in other emerging markets as companies attempt to benefit from sales to low-income consumers.
Customer-centered, innovative retailers are characterized by offerings that address an apparently impossible value equation: catering to the aspirational needs of emerging consumers by listening to the voice of the customer. Successful retailers have experienced sustainable business growth by improving the customer experience in a truly creative fashion. Learn more in the report below.