The story of Target’s process of innovation, as told through one employee, Elwin Loomis. According to the Star Tribune, Loomis left Target after 12 years to work at a smaller, more innovative, company. A decade later, Loomis finds himself back at Target, but what he came back to was not the same company he left.
From the article:
“At Target, we’re at the right time, the right place and the right culture to really effect transformative change,” said Loomis, a senior group manager with emerging technologies. “There’s some really good stuff happening now.”
Two years after revamping its website, the Minneapolis-based retailer has gone on a digital tear, dramatically transforming a store-based culture ruled by marketers and merchandisers into an integrated innovation machine. The company that normally needs a year to plan collections of clothes and accessories now wants to roll out mobile apps and social media tools in just weeks.
“It’s not about just one physical manifestation on how you innovate like a research and development center,” said Beth Jacob, Target’s executive vice president and chief information officer. “Innovation is everyone’s day job.”
At times, Target seems to be operating at 4G speed. Over the past several months, the company has retooled Target Mobile, launched a digital coupon program via Facebook and live-streamed the doings of YouTube millennials residing in dorm rooms outfitted with Target merchandise that consumers could purchase by just scrolling over the products.
Such ambitious efforts come at a pivotal time for Target. The retailer has struggled to grow sales at its 1,784 stores in the United States as impatient and digital-savvy consumers flock to the Internet in search of deals, entertainment and convenience. As a result, retailers are searching for new sources of growth through online, mobile and social media.