What is Business Model in Retail? Explained

A business model is like a blueprint that outlines how a store plans to create, deliver, and capture value. It's the strategic design that defines the products or services offered, the target audience, and how the business intends to generate revenue. Whether through traditional brick-and-mortar sales, e-commerce, subscription models, or a combination of these, a business model is the master plan that guides a retailer's journey. It's the roadmap for success, reflecting how a retail business envisions itself thriving in the ever-evolving landscape of consumer demands and market trends.