Retailers have been implementing innovation labs more and more as they not only help in designing new products and services, but also help craft new collaborations with other companies. Now, 7-Eleven is the latest brand to create a retail innovation lab!
Located in Dallas, 7-Eleven just opened a 7-Eleven lab store which is designed so that customers can test and purchase the newest innovations from the retailers. Currently, they have the technology that lets shoppers use their phones for payments. By using 7-Eleven’s mobile app’s Scan & Pay feature, customers can scan the merchandise that they want to buy and go.
Some of the most productive innovations are new ways of processing payments. According to one recent report, convenience store operators “need to utilize data to get more information about their customers to create not just a more relevant experience, but also a more resonant experience.”
In fact, creating such convenience oriented strategies are highly demanded in the retail industry, and helps guide work in other retail innovation labs!