- He made the comment during a panel discussion at Business Insider's
- Cornell said Target focuses its innovation research on ideas that can be rolled out to stores and online within a three-to-five-year time frame.
Target CEO Brian Cornell took a shot at Walmart's innovation team on Thursday, alluding to its work with robots and virtual reality as "nice little experiments that distract the organization."
Cornell made the remarks at Business Insider's IGNITION conference in response to a question about retailers, and more specifically Walmart, experimenting with store-of-the-future concepts.
He said
)
)
)
To assist in that process, Target has partnered with the venture capital firm BCG Digital Ventures to launch a 14-week "innovation sprint" aimed at coming up with new ideas for growing the retailer's business.
The project involves Target managers teaming up with BCG Digital Ventures' designers, engineers, and investors to generate ideas for new products and potential businesses.
The 14-week "sprint" is coming to a close this week, and on Friday the teams will present their ideas to executives, Cornell said.
"We're going to see some pretty exciting ideas," Cornell said.