Abstract
Enlightened by the case of Meiyijia, this paper highlights an innovative retail business model entitled virtual retail enterprise (VRE). After completely overhauling its business model under the pressure from multinational competitors, Meiyijia quickly expands the number of Meiyijia convenience stores and transforms itself from selling products to selling services and from profiting from price differences to profiting from value-added services. Furthermore, this paper provides some practical insights: retail enterprises in China may boost the competitiveness and develop rapidly from mechanism innovation such as business model transformation; besides to increase efficiency and reduce cost, the third road is to increase income from reforming; and retail enterprise’s management must integrate the local culture tightly.
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