What is Disruptive Innovation in Retail? Explained

Disruptive innovation in retail entails introducing novel products, services, or business models that profoundly reshape industry conventions. Spearheaded by innovative entities, these transformative changes challenge established norms and redefine the competitive landscape. In retail, examples include the advent of e-commerce, mobile shopping apps, or technological advancements that fundamentally alter how consumers shop and how retailers operate. Effectively navigating disruptive innovations is essential for retailers to remain competitive, adapting to evolving customer expectations within the dynamic and ever-changing retail environment.