Retail sector leads in innovation and already surpasses technology

The difficulties faced by the retail sector, such as logistics, pushed its rapid development in innovation. Peru still has a low rating.

The response speed that the pandemic demanded of businesses has encouraged them to scale up their level of innovation. However, there is still some way to go.

According to the Innovation Maturity Index (IMI), conducted by UPC and KPMG, Peru has the lowest score (beginner, according to the terminology of the study).

José Luis Najarro Méndez, KPM consulting partner in Peru, explains that this level includes companies that carry out innovation practices based on individual needs and not on defined processes.

By focusing on sectors, retail stands out with the highest level of innovation maturity (connect) compared to other areas such as technology. And it is just one step away from reaching the highest level (expert) of the five levels of the IMI.

“(At the connect level) the organization already uses a standard framework for measuring the effectiveness of the integration of teams, technologies and tools related to innovation,” he explains.

Challenges with momentum

How did the retail sector surpass technology in innovation? “It must be taken into account that most of the Peruvian technology companies evaluated are consultants or developers,” says Najarro.

These, he says, have opportunities for improvement in their management systems, as well as in their culture and results.

“Retail has been able to do this by force because the pandemic demanded it.” Now, their platforms are growing to sell through digital channels and make deliveries in less than 24 hours, he says.

Érika Acosta, director of Innovation and Transformation at UPC, indicates that although technology stands out as the second sector with the highest level of innovation, only behind are construction and real estate, and fishing. These three are still in the third level (experimenter).

That is, he notes, they have a committee or team responsible for the integration of people, processes, technology and data throughout the company, allowing the innovation cycle to develop.

Data

Sample. The report gathers information from 56 medium and large companies in the public and private sectors. The results reflect the innovation maturity until March 2022.

In process. The health, energy, transportation, mass consumption, textile production, public administration and consulting sectors are at the lowest level of innovation maturity.