What is Crowdsourcing in Retail? Explained

Crowdsourcing is a business practice that involves obtaining ideas, content, services, or solutions by soliciting contributions from a large group of people, typically an online community. This collective collaboration allows businesses to tap into the collective intelligence and diverse skills of a crowd to achieve specific goals. Crowdsourcing can be applied to various tasks, including idea generation, problem-solving, design, and data collection. Platforms and initiatives that leverage crowdsourcing enable businesses to harness a wide range of perspectives, often leading to innovative solutions and fostering community engagement.