How the Big Boys Chase Innovation
Panel of execs from Best Buy, Dell and 1-800-Flowers.com lead keynote presentation on competitive differentiation
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Joe Keenan
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Budget for Innovation
“If you don't budget for something, it doesn't happen,” said Siegel. “Budget for innovation.” On a monthly basis, four to five ideas are pitched to senior management at 1-800-Flowers.com. If even one of those ideas works out, "we're ecstatic," Siegel said, noting that the company has launched dozens of websites that have failed. That culture of innovation has helped 1-800-Flowers.com to be the first company to use an 800 phone number, the first merchant on AOL and the first company to complete a transaction on Facebook.
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Joe Keenan
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Joe Keenan is the executive editor of Total Retail. Joe has more than 10 years experience covering the retail industry, and enjoys profiling innovative companies and people in the space.
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