National Optical Retailer | Innovation Strategy
Liberty drove a 5-year innovation strategy, in partnership with our client’s leadership, that defined a pragmatic path forward to defend and grow the business.
Impact At A Glance
Opportunity whitespace identified
We outlined a full 5-year roadmap of Do Now, Do Next, and Do Later innovation activities
10% Incremental Growth
The top three reinvention initiatives were further designed, modeled, planned, and pilot tested which yielded an estimated whitespace opportunity of 10% incremental growth.
Our client came to us with an innovative mindset and bold approach to address the following questions to help strengthen and grow the business.
- How should we reinvent our company to achieve aspirational growth objectives?
- What whitespace opportunities should we invest in to protect against disruptive technology and online entrants in our category?
- How do we build a permanent, always-on, innovation muscle and mindset inside our organization?
The Business Problem
In the wake of the COVID-19 global pandemic of 2020, the optical category faced unprecedented disruption to an operating model formula that had been predictably successful and relatively unchanged for decades. New online entrants were undercutting on price and a wave of disruptive technologies were enabling at-home services that threatened the traditional model. The management team understood that the long-term viability of the company would depend on its ability to innovate and challenged Liberty Advisor Group to drive a 5-year innovation strategy that defined a pragmatic path forward to defend and grow the business.
In partnership with the company’s leadership, Liberty guided the team through a proprietary process to identify trapped value and identify potential opportunities already available and within their control. The framework evaluated appetite for risk and took an offensive and defensive approach to assessing inevitable trends in the category and identifying ways to leverage the company’s greatest strengths and assets that unlock unique and profitable whitespace. Each idea was pragmatically qualified based on alignment to strategy, probability for success, and ROI. The top three reinvention initiatives were further designed, modeled, planned, and pilot tested which yielded an estimated whitespace opportunity of 10% incremental growth each year for the next 5 years, or approximately $1.2B.
Related Client Success Stories
See More Client Stories
Related Client Success Stories
View More Insights
Join Our Newsletter
Join our newsletter to stay informed about the latest industry trends, innovative solutions, and expert analyses. Receive valuable insights, thought leadership, and actionable strategies delivered directly to your inbox. Don't miss out on the opportunity to elevate your business knowledge and be at the forefront of success. Subscribe now and empower your journey with Liberty's trusted expertise.
With Our Deep Experience, Guaranteed Outcomes, and Tailored Approach, We Help Turn Our Clients' Ambitions Into Reality.
What Are Your Ambitions?