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Did you know that there are only 30.7 million businesses just in the US*? This means that your business is competing not just with the market players out there but with every single store that could deviate your customer from shelling out their money on your business.

Your competitor is not just another store in your niche that is right down the avenue but an Ecommerce store operating out of the clouds with a physical address that could be somewhere along coastal America.

So today, you have more anonymous competitors than ever who are posing a threat to the smooth operation and performance of your business with their quirky marketing strategies, ad copies, promotions, aesthetic websites and more.

And it doesn’t stop there. In the United States, a business can be started with an initial investment of just $5,000 (33% of the businesses have done so) and that a business can be started from the comforts of a home*. It falls under mobile apps development in ecommerce segment.

So, in simple words, growing your business is not just a task but a difficult one as well. Thankfully however, business growth is not just one ingredient that would make your sauce awesome. It’s a list of different ones that slowly blend in and push your business up in the market.

And on this series of posts, we are going to explore such aspects that would propel your business ahead. If you own a business and are looking for tested ways to grow your business, this series is just for you.

We have compiled, handpicked and curated aspects that only prominent gurus will tell you. From identifying your market segment and fixing the right business model to understanding pain-points in them and looking at diverse solutions, we would see them all.

So, without wasting any more time, let’s get started.

What Are Some Retail and ECommerce Business Models?

A business model is something that fetches you money and profits and helps your business stay afloat. Without a proper business model, there wouldn’t be an entity in the first place.

For your business to be successful, it needs a business model – one that is solid and sustainable. Business models stand as the center for growth, expansion and profit and as an aspiring business person, you should know that there are several kinds of business models.

How ideal a specific business model is depends on the type and niche of the business it is applied to. Some business models are instantly lucrative and a few focus on laying the right foundations for proper profits in the following years.

Below, we have explained several business models. Read and find out if you are already implementing one of them for your business or not. If you’re not, reflect and identify a business model that would be more appropriate for your business.

Types of Business Models
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This could be an online or an offline store, where you sell products and services from multiple brands in a single place.

An online model, where you don’t stock goods but redirect sales orders to wholesalers who then take care of shipping orders.

It is where you buy goods and products at prices set by manufacturers and stock them in bulk. You then markup prices and sell them at MRPs.

This is a model, where a company manufactures goods and products and a different company or sells them under its label or brand.

When you buy a product from a manufacturer and modify it a little to make it look like your own, it is called white labeling.

A combination of the words free and premium, this is a business model, where you offer basic features for free to users and lock advanced features for purchases. Most of the apps in our phones follow this business model, where in-app purchases can be made by users to unlock newer app potentials and functionalities.

A market aggregator where vendors find a place to sell their products and services and customers find products to purchase.

This is probably the most popular business model, where you pay a monthly or an annual fee to consistently use products or services. For instance, Netflix.

Any service that is provided on a need-to basis is an On Demand service. Customers typically want such services at a time and place of their choice.

This is similar to On Demand services but instead of services like ticketing or entertainment, it is products.

An internet-based business model, where the business you are associated with as an affiliate pays you whenever sales happens through your efforts or mediums. For instance, sales from a banner ad on your blog, ad on your YouTube video and more.

That’s all for now. Let’s take baby steps into understanding business aspects. On the next post, we will get started with the Multi-brand retail store model.

Let's get started