How To Work With Fashion Tech Start-ups: A Guide For Retailers

retail strategy strategy Feb 11, 2021

Covid has moved life and shopping online, and retailers are in a hurry to adapt new technologies and work with start-ups.  

But, unless you prepare to work with a start-up, the investment could be wasted and the retailer's reputation could take a hit. The good news is, getting it right isn't that hard.

Here are four strategies retailers should adapt to work with start-ups effectively.

 

  1. Before working with a start-up, establish one or two problems you want to solve
  2. Once you have decided your key priorities, set them a time, a budget, a hierarchy of decision making, and an area you want to experiment in.
  3. Beware of innovation consultants who have never worked in a start-up. They will waste your money.
  4. When negotiating with a start-up, go beyond money.

 

Listen to the podcast for more.

 

Listen here on Apple Podcasts

Listen here on Spotify.

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