Binomial worked with the Singapore Retailers Association (SRA) to empower retailers to navigate challenges faced by the entire sector. We designed and facilitated a multi-phase programme that combined in-depth industry insights, cross-generational collaboration, and a structured Innovation Challenge to generate actionable insights and potential solutions for the future of retail in Singapore.
Leveraging a design thinking approach, Binomial partnered with SRA to develop and implement a multi-phase innovation programme. We designed and facilitated a multi-phase programme that combined in-depth industry insights, cross-generational collaboration, and a structured Innovation Challenge to generate actionable insights and potential solutions for the future of retail in Singapore.
We started by ensuring we’re solving the right problems. We engaged retailers across various categories from fashion apparels to departmental stores to home in on the top issues they face. With their input, we identified six sector-wide problem statements and elaborated on them using background context of retailers:
1. Building brands that stand out to customers
2. Connecting in an omnichannel world
3. Leveraging e-commerce and digitalisation
4. Attracting & retaining retail talent
5. Driving sustainability in our products
6. Adapting to post-COVID changes
To brainstorm a range of creative ideas, we brought Gen Z consumers from various Institutes of Higher Learning (IHLs)together. 42 cross-IHL teams totaling 163 students joined us.
Over the next two months, we ran a mini-accelerator to guide teams through a journey of ideation, validated learning (with problem owners), and solution development.
Their journey culminated in a "Pitch Day" where finalists pitched their concepts to a panel of retailers and executives, who judged the teams based on the desirability, feasibility, and viability of their solutions. With the solutions presented, interested retailers are free to reach out to teams on bringing their solutions to the next level at the end of the programme.
retail partners expressed interests in solutions shared
The challenge generated a range of creative solutions encompassing areas such as personalised customer engagement strategies, tapping on the gig economy for manpower shortage, and sustainable packaging & logistics solutions.
Beyond the innovative solutions, the programme also directly addressed another challenge – lack of interest from young talent to work in retail. We observed that the programme fostered a greater understanding of retail and generated interest from participants in joining the industry.
of students gained deeper understanding of the retail industry
of students are interested in joining the retail industry
