The Impact of Digital Transformation on Retail Business Models: A Global Perspective

Abstract

As a result of technological developments, retail is experiencing a sea change that is altering company patterns worldwide. how technology is impacting critical areas like customer interaction, operational efficiency, supply chain management, and the overall consumer experience as a result of digital transformation and its effects on retail business models. the impact on retail companies' ability to compete and survive in the face of digital innovations such as omnichannel strategies, big data analytics, e-commerce platforms, and artificial intelligence. Looking at it from a global perspective, we can see the differences between the digital tactics used by merchants in developed countries and those in emerging nations, as well as the opportunities and threats that come with each. Many new forms of business have emerged as a result of digital transformation, including subscription services, personalised marketing, and direct-to-consumer (DTC) companies. The results imply that digital transformation has many benefits in terms of operational efficiency and customer reach, but it also has certain drawbacks in terms of data security, digital infrastructure, and meeting the ever-evolving demands of consumers. the course that retail business models will take in the digital era, and offering advice on how companies might thrive in this dynamic environment.