E-Commerce Impact on Traditional Retail: Exploring the Transition to New Retail Approaches

The rise of e-commerce has greatly impacted the brick-and-mortar retail industry, and with the empowerment of digital technology, the new retail model has become the development trend of most enterprises. This paper analyzes the transformation of brick-and-mortar retail industry by using SWOT model and provides suggestions for the transformation of brick-and-mortar retail industry. Let the enterprise according to their own situation to develop a feasible transformation program, the use of policy support, in line with the consumer psychology of the implementation of the transformation, the flexible use of big data and other technologies to better position the changes in market demand, to achieve inventory stability, the reasonable ratio of import and export, drawing on the experience of e-commerce online sales, to create a more perfect service system and sound supply chain management, improve logistics technology, to provide consumers with a better shopping experience. In addition, enterprises in the transition process need to pay attention to the integration of online and offline to play the advantages of the new retail model, away from the homogenization of the competition, to achieve the purpose of enhancing competitiveness, so that enterprises are truly invincible. The rise of e-commerce has brought opportunities and challenges to the traditional retail industry, and the transformation of physical retail to new retail is the inevitable choice of the times.