Business Model Change for Retailers

“Variety is the only constant” such is the saying of Heraclitus. What was true a century back holds true even today. A gradual change is the undercurrent of time. Change is in the air and retail business cannot lag behind. Plan your change model, check out the long-term and short-term strategies and alter the entire retail landscape. From ancient times till now, it's always about survival of the fittest. Evolving your business to survive whether it’s a high end retail chain selling luxury watches, jewelry or handbag planning a good business scheme for international expansion becomes crucial. Targeting the market in Shanghai, China is a good option for a short-term and small scale change in the business organization. Once you start doing a brisk business, you can invest more in countries like Brazil, Russia, India and China (the B.R.I.C), for opening up additional retail stores for long-term and large-scale business.

Earlier business retailers have always categorized themselves in accordance with the function and category. But modern market throws light on some different aspects such as retail marketing itself, customer relationship management, marketing, online marketing, category management and logistics. To bring about a short-term and long-term change a business executive must think of integrating customer experience as a whole. With a proper and a rationale model plan you can augment your business by making several segments of the consumers on the basis of their shopping habits and expenditure limitations. A customer centric model will help you to understand the buyer habits, their behavioral psychology as they have become more choosy and discriminating when it comes to investment.

Whether...

... middle of paper ...

...the article I would like to narrate that a change, is not a miracle. It is not something that you are planning now, implement tomorrow and reap the benefits in an overnight. It takes time, hard labor and evidently drains a lot of your patience and resources.

References:

Chapman, a. (n.d.). change management. Retrieved from businessballs.com: http://www.businessballs.com/changemanagement.htm

Kotter's 8-Step Change Model Implementing Change Powerfully and Successfully. (n.d.). Retrieved from mindtools: http://www.mindtools.com/pages/article/newPPM_82.htm

Valerio, R. (2012, March 14). 2012 Business Model Change for Retailers and E-Retailers. Retrieved from biznik: http://biznik.com/articles/2012-business-model-change-for-retailers-and-e-retailers

Weiss, J.W. (2012). Organizational Change. San Diego, CA: Bridgepoint Education, Inc.