Tesco yesterday launched the ‘Tesco Red Door’, described as a “new approach to disruptive innovation”.
At a virtual event, the retailer announced it was inviting innovators with new products, ideas or emerging technologies with the potential to “cause disruption in the future” to contact its newly established Innovation team. This team will be responsible for evaluating ideas, supporting firms to access Tesco, and helping them to develop their ideas.
Specifically, Tesco stated that team was looking for innovators to work with it in areas beyond its day-to-day operations, with a focus on ideas that can create a competitive advantage for the business and improve the way it serves shoppers.
One example included using airborne drones to make home deliveries – see here
Led by Innovation Director Claire Lorains, the team is said to be made up of experts from across each of Tesco’s core business functions, and will report directly to the group’s CEO. The team has already established networks in three key innovation hotspots – London, San Francisco and Israel – giving direct access to emerging technologies.
Tesco stated that it was initially focusing on four priority areas that will deliver the biggest impact: food & drink products and technology; data; robotics and automation; and packaging.
Chief Executive Dave Lewis said: “A strong pipeline of innovation is essential in ensuring we can anticipate and respond to our customers’ needs, and we believe there is an opportunity now to welcome even more innovation into our business, and to do it faster.
“Our new Group Innovation team will help us to access the most exciting innovators from across the globe. In turn, we can offer those partners a unique opportunity to build and develop their ideas rapidly and at scale, using the benefits of our experience and access to market.”
Lorains added: “In the short time we’ve been together, our multi-disciplinary team has already built networks in key innovation locations, and seen over 200 innovations. We’re moving quickly, and I’m delighted to see some of the ideas already coming to market.”
