The Little Innovation which Transformed Online Shopping

The Little Innovation which Transformed Online Shopping

Online marketplaces like eBay and Airbnb have revolutionized shopping and travel, respectively. However, the key to their success was not just technological advancements, but a simple innovation - buyer/seller feedback. This concept, introduced by eBay in 1997, allowed sellers to build a ratings history and engender trust, a key component of business. Today, online feedback is fundamental to businesses like Uber, Taskrabbit, TripAdvisor, and Amazon. This is a reminder that innovation does not always require complex technology, but rather an improvement in intangibles like trust.

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Establishing the right innovation metrics and indicators can be challenging. This article discusses research around innovation metrics and KPIs, and how they can be structured by process phase, measurement area, and expression in qualitative or quantitative terms.

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Don't Go On Your Own: Lessons From LoyaltyOne's Corporate Innovation Lab

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