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Theories and Methods of Science of Science

The Mechanism and Suggestions of Context-driven Business  Model Innovation and Its Value Creation in New Retail

Yu Dengke1 , Xiong Manyu1 , Xia Shiqi2 , Xiao Huan3 

（1.School of Public Policy and Administration, Nanchang University, Nanchang 330031, China; 2.School of  Business, University of Southampton, Southampton SO171BJ, England; 3.Postdoctoral Mobile Station of Manage⁃ ment Science and Engineering, Nanchang University, Nanchang 330031, China） 

Abstract: industry's business models by reshaping the relationships among people  The rapid development of digital technology has completely transformed the retail  , goods, and yards. It has  provided consumers with entirely new value experiences and injected fresh vitality into China's  commodity economy. However, existing research has not clearly elucidated the mechanisms of  business model innovation driven by new retail contexts. Firstly, on the basis of the literature review, we clearly defined the connotation of new retail  context and contextual value. We identified key contextual elements, such as community, con⁃ tent, time, and space, and developed dimensions of contextual value, including emotion, experi⁃ ence, and efficiency, beyond basic functional value. By exploring the interactions between these  elements and values, we generated a conceptual model of "relationship-context-value".Furthermore, creation  we introduced the concept of business model innovation as a means of value  . Using "context-model-value" as a framework, we constructed a theoretical model to ex plain the mechanism of value creation in context-driven new retail business model innovation ⁃ . Specifically, we proposed four strategies for creating contextual value: ① "novelizing application  context to create functional value", enhance the functionality of products and services;② "tran⁃ siting the space and time of purchase to create efficiency value", optimizing transaction pro⁃ cesses and logistics systems, increasing transaction efficiency;③ "realizing virtual interactive  context to create experience value", enrich content and interactive formats, improving the con⁃ sumer shopping experience;④ "socializing attention context to create emotional value", build  communities and emotional connections, enhancing consumers' emotional recognition. Finally, to verify the effectiveness of the theoretical framework, we further analyzed the re⁃ nowned retail enterprise "Better Life" as a case study. The practices of Better Life in new retail  context-driven business model innovation show significant success in areas such as application  scenarios, transaction scenarios, interactive scenarios, and attention scenarios. It has not only im⁃ proved the efficiency of product circulation and consumer shopping experiences but also  strengthened consumers' emotional recognition and brand loyalty. In summary, this study enriches contextual business model theory, providing theoretical  support for business model innovation in new retail enterprises driven by digital technology, and  offers specific guidance and references for practical new retail enterprises. Future research could  further explore the relationship between business model innovation and contexts through multicase or empirical methods to provide more comprehensive and in-depth theoretical guidance for  the development of the new retail industry. 

Key words: new retail; business model; context-driven; value creation; mechanism study