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4 Mar 2024

The British Book Awards has announced its shortlist for Independent Bookshop of the Year. 

4 Mar 2024

The ACT is happy to confirm the date for Local Bike Shop Day 2024 as Saturday 4 May, the weekend of the early May Bank Holiday.

4 Mar 2024

Research by global fintech company SumUp has revealed the best cities in the UK for independent businesses.

21 Feb 2024

The latest quarterly State of the Industry survey from the National Hair & Beauty Federation (NHBF) shows that the recovery of the sector was slow and steady through 2023 and into January...

21 Feb 2024

The UK has voted for its favourite pun-based shop name, and 'Sew It Seams' - a clothing alteration store in Belfast - has been awarded the top spot. 

21 Feb 2024

Businesses in the Devon town of Ottery St Mary have praised their local council for initiatives designed to help support them and boost trade.

19 Feb 2024

A new ranking of the most popular independent coffee shops in the world has put three UK cafes in the top 10.

19 Feb 2024

Older people could be the financial shot in the arm needed for Britain’s high street, according to research commissioned by the University of Stirling. 

8 Feb 2024

The ACS (the Association of Convenience Stores) has celebrated the crucial role that rural shops play in thousands of communities across the UK in its 2024 Rural Shop Report.

8 Feb 2024

New research reveals that Apple Pay and contactless payments have overtaken cash payments by a landslide as our favourite ways to pay in-store.

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What business models are working well for retailers?

Posted on in Business News , Cycles News

Internet Retailing explores Amazon's, H&M's, The Range's, and N Brown Group's successful and innovative business models. online shopping

This is not to say that these models will work for everyone but as the retail market landscape evolves and moulds with the times more and more unique and innovative strategies are being introduced and holding water in the albeit flexible market space.

Amazon's focus is around Alexa and voice commerce as a primary focus within their business model. The introduction and rapid growth of popularity within the 2018 period surrounding Alexa is making Amazon more and more digitally sound. Amazon is blending the lines between services and introducing a digital side.

H&M has taken a similar direction into bringing the stores and digital closer together, watching fast online sales. H&M states that the decline of in-store sales in the UK has been more than compensated by the fast growth in online sales.

The Range is starting on a store opening programme marking its 30th anniversary year. Opening new stores around the UK this year will create hundreds of new jobs. While many multichannel retailers are reducing their high street presence for online shopping, The Range is growing their high street presence.

N Brown Group has introduced another unique business model, investing in online merchandising. N Brown Group is introducing the use of new photography technology as a means to inspire and inform customers of what they are buying.

These four unique and different retailers are all working towards the same overarching goal utilising their own strengths and customer demographics to get them there.

It is all about figuring out what works for your business and your customers.

 

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