The founder of Store No 8 Katie Finnegan explains how the company is looking for the next innovation in retail. Store No 8 is Wal-Mart's idea incubation arm.

Finnegan says Store No 8's goal is to change retail for the better, pursuing innovations that may not be implemented for another 10 years. While Store No 8 is aiming to create things that will be acquired by Wal-Mart, it also knows there could be other revenue streams.

Finnegan says Store No 8 is a "unicorn opportunity" for entrepreneurs. The company recently acquired Bart Stein and the team over at Wim Yogurt.