Digital Transformation and Innovation Strategies for Traditional Retail Stores

Abstract

Due to the global pandemic and world economy recession, the passenger flow of the retail industry is still relatively weak. Many countries have strengthened measures to prevent and control the epidemic, and then temporarily closed their stores. This reminds businesses that COVID-19 is still an ongoing challenge. This paper aims to identify the possible digital solutions for traditional offline retail stores to embrace digital innovation to become more smart and efficient. This research theme is to explore the feasibility of introducing a digitized business model into traditional retail stores using JD sports as the case. Business Model Canvas is used to identify the existing business model of JD retail shops, while Innovation Ambition Matrix is designed for making the innovation plan. The latest business model is presented with the help of the Customer Journey Map. By implementing the model, JD's traditional retail shop will reduce labour costs and increase operational efficiency, strengthening its competitive advantages.