According to new research from The Economist, Britain and America are the most innovative major economies. This is great news for the economy as a whole, but it means businesses within the economy can't afford to be complacent. With increased innovativeness comes increased competition for established businesses. Thus they need to embark on digital transformation programs if they haven't already. Staying still is not an option.
It is also interesting how China is 'punching about its weight' when it comes to innovation plotted against GDP per capita. This again should be a warning to major brands to expect stiff competition from China's emerging digital champions, who are using the lessons they've learnt appealing to price-conscious mobile consumers in their home market. Both East and West can learn from each other.
By Robert Allen
Rob Allen is Marketing Manager for Numiko, a digital agency that design and build websites for purpose driven organisations, such as the Science Museum Group, Cancer Research UK, University of London and the Electoral Commission. Rob was blog editor at Smart Insights from 2015-2017. You can follow Rob on LinkedIn.
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