What Innovation Means for Different Leaders

A look at how representatives of different retail categories define innovation and how they approach and implement it in their businesses.

- Phygital Bureau

In today's rapidly evolving business landscape, innovation is frequently touted as the key to success.

However, innovation can mean different things to different people, especially across diverse industries.

Leaders from different categories of retail each have a unique perspective on what innovation means to them and how it drives their businesses.

Different Takes

Taniya Biswas, Co-Founder, of Suta, a brand that sells sarees, emphasized that for her company, innovation is not just about the product but encompasses a 360-degree approach. This includes the way Suta communicates with its customers, the design and layout of its stores, and even the murals that adorn the store exteriors.

"Innovation at Suta revolves around enhancing the customer experience. We aim to make our brand not just relevant but memorable to the Gen Z audience," Biswas explained.

Dhaval Raja, Chief General Manager, of Senco Gold and Diamonds offered a different take on innovation. In the highly regulated and competitive jewellery industry, Senco focuses on technological innovation to appeal to younger generations. "We launched Senkouverse, a pioneering platform in the metaverse, where customers can have an immersive experience and curate their jewellery," Raja shared. The brand also used augmented reality (AR) to offer personalized jewellery suggestions based on a customer's facial features and skin tone, making the shopping experience more personalized and engaging.