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Business model innovation in the retail industry: growth by serving the silver generation

Author

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  • Veit Gregor Lange
  • Vivek K. Velamuri

Abstract

How can an established retailer face the challenge of an ageing society? We study the components of business model innovation in the German retail landscape that are implemented on the sales floor to cater to the needs of the silver generation segment. Applying a multiple case-study approach our analysis suggests that the five firms under study focus on three specific areas: 1) store layout and physical environment; 2) intensified customer service; 3) increase in 'senior-friendly' product offerings. Improvements in these areas help retail firms increase the value proposition, improve customer relationships, and augment revenues. In total, our research highlights how retailers can alter their business models to better meet the needs of the growing silver generation segment.

Suggested Citation

  • Veit Gregor Lange & Vivek K. Velamuri, 2014. "Business model innovation in the retail industry: growth by serving the silver generation," International Journal of Entrepreneurship and Innovation Management, Inderscience Enterprises Ltd, vol. 18(4), pages 310-329.
    • Handle: RePEc:ids:ijeima:v:18:y:2014:i:4:p:310-329
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    Cited by:

    1. Mostaghel, Rana & Oghazi, Pejvak & Parida, Vinit & Sohrabpour, Vahid, 2022. "Digitalization driven retail business model innovation: Evaluation of past and avenues for future research trends," Journal of Business Research, Elsevier, vol. 146(C), pages 134-145.
    2. Just, David R. & Gabrielyan, Gnel, 2018. "Influencing the food choices of SNAP consumers: Lessons from economics, psychology and marketing," Food Policy, Elsevier, vol. 79(C), pages 309-317.
    3. Mostaghel, Rana & Oghazi, Pejvak & Lisboa, Ana, 2023. "The transformative impact of the circular economy on marketing theory," Technological Forecasting and Social Change, Elsevier, vol. 195(C).

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