India Retail News

From the Editor's Desk

How Startups Benefit From Collaborating With Large Corporations

Innovation is no longer something that companies should strive for but something that's become necessary for survival. That said, it's long been difficult for big businesses to keep pace with the innovation of smaller businesses and more nimble startups. As a result, corporations are fiercely working to find ways to encourage innovation, for example through innovation labs, building disruptive cultures, or hiring chief innovation officers.

While these shifts have helped and have enabled big companies to establish cultures of innovation, there's one increasingly popular way that many companies have found to encourage innovation: collaborations with startups. When done correctly, these collaborations can be mutually beneficial and can help both parties develop, gain a competitive advantage, and ensure long-term success.

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From the Editor's Desk

'This is revolutionary': new online bookshop unites indies to rival Amazon

It is being described as a "revolutionary moment in the history of bookselling": a socially conscious alternative to Amazon that allows readers to buy books online while supporting their local independent bookseller. And after a hugely successful launch in the US, it is open in the UK from today.

Bookshop was dreamed up by the writer and co-founder of Literary Hub, Andy Hunter. It allows independent bookshops to create their own virtual shopfront on the site, with the stores receiving the full profit margin - 30% of the cover price - from each sale. All customer service and shipping are handled by Bookshop and its distributor partners, with titles offered at a small discount and delivered within two to three days.

"It's been a wild ride," said Hunter, who launched the site in the US in January. "Five weeks into what we thought was going to be a six-month period of refining and improving and making small changes, Covid-19 hit and then suddenly we were doing massive business."

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TradeBriefs: What's important, not just what's popular!

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