Redesigning Business Model Strategy: The Digital Future of Retailing in Europe

Abstract

In times of progressive digital transformation and constant change, a continuous reorientation of stationary retail is indispensable in order to be successful in the future. The practical recommendations for action provide a guideline for the transformation of stationary retailing based on digital change processes. Various factors are taken into account, which is identified as critical success factors for stationary retail. These include a reorientation of the business model, the introduction of new digital technologies and data protection. In general, stationary retail must rethink the business model holistically and be open to radical innovations in order to be successful in the long term. More than ever, the influence of digital technologies and the influence of online retailing can be felt. Adapting successful digital and technological megatrends is, therefore, a critical success factor. If the necessary change is lacking in stationary retail, successful digital companies – such as Amazon or Alibaba – will replace entire industries. Subtotaling, the following questions are answered: What problems does stationary retail face – caused by the digital transformation? What digital solutions already exist? How can stationary retail remain successful in the digital age?