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

  • 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 eironment; 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.

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Document Type:Article
Author:Veit Gregor Lange, Vivek K. VelamuriORCiD
Chairs and Professorships:Chair of Entrepreneurship and Technology Transfer
Year of Completion:2014
In: International Journal of Entrepreneurship and Innovation Management, 18 (2014) 4, 310-329