Business Model Practices in Indian Retail Sector: A Conceptual Study
Keywords:
Business model, retail, customer, value, costAbstract
Retail sector in India has changed drastically and retail business models also. Retail business model is the design of the business operations to reach the customer, value creation by meeting the customer’s expectations by staying at the top in the competition. Business model innovation is required to adapt the changing customer’s needs. Change in the technology is enabling the firms to design new models. Ecommerce emergence has created many new ways of exchanging the information which created some wide entry opportunities for firms with new business models based on electronic platform to interact with the customers. The purpose of this study is to understand the significance of business model in retail sector through examining the current practices which highlights the arguments in this study.
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