Channel Innovation
The introduction of new and creative strategies or technologies to improve the effectiveness of sales channels, often leading to competitive advantages.
Implications
The introduction of new and creative approaches to managing and optimizing sales or distribution channels, often involving the adoption of new technologies, business models, or strategies to improve efficiency and market reach.
Example
Example: An online retailer introduces channel innovation by using augmented reality (AR) in its app, allowing customers to visualize products in their homes before purchasing, enhancing the shopping experience.
Related Terms
Different from product innovation, which focuses on new products or features, channel innovation is about improving the ways products are sold and delivered to customers.
Get INSTANT comprehensive market research of any industry
Chat with AII Consultant Now!
