Using Global Insights to Drive Local Innovation

Innovation is an essential factor in any organization seeking to distinguish itself from its competitors. One way to achieve this goal is by scanning the globe for emerging trends and cultural changes and then tailoring the insights to drive innovation at the local market level. This article explores how global insights play a crucial role in identifying opportunities for innovation. It explains how a large regional retail company selling books and music used global insights to design their new concept store. The team traveled to 11 locations, including Rome, Paris, New York, and Singapore, to gather insights that helped reinvent their retail experience. The article highlights the core ingredient for innovation as unmet customer needs, which are typically derived from qualitative research.