More and more retailers are turning to private labeling and exclusive products to drive revenue. With this move comes an investment in building internal product development functions. It is estimated that by 2013, 40% of retailers will generate half of their revenue from private labeling and exclusive products. At FEI11, Michael Kitz, of OfficeMax, talked about this model in his presentation, Retailer Driven Innovation – A Powerful New Business Model.
In this nonfiction work geared towards a business audience, Pink argues the age of “left-brain” dominance is giving way to “right-brain” thinkers whose minds are more akin to designers, inventors, teachers and storytellers than lawyers and MBA’s. With the coming of what Pink refers to as the Conceptual Age, the future is in the hands of creators and empathizers, pattern recognizers, and Read more