Research On The Transformation Of Branches Of Agricultural Bank Of China Under The Framework Of "new Retail"

The retail business has the characteristics of high profit contribution,high return on capital,and strong resistance to the influence of the economic cycle.The quality and level of retail business determine the bank's core competitiveness and value creativity in the future.Even if the ABC is the large bank,it always have the problem of increasing competition among the same industry and the development of retail products.With the development of the social economy and the continuous innovation of financial products,the financial demand of regional consumers has developed from a single savings business to an integrated and personalized direction.Therefore,every bank has to think deeply from the regional customer market demand,the consumer preference and the regional economy characteristic and so on.Moreover,the products of our retail business also lack innovation and do not have their own specialty products and services.At this stage,the customer groups targeted by our industry are also highly consistent,and product homogenization competition has intensified.If we want to maintain the healthy development of banking retail business,There is an urgent need to transform retail outlets.Taking the example of Baotou Yellow River branch of agricultural bank,combining with the theoretical research of scholars at home and abroad,this paper analyzes the current situation of branch transformation of yellow river branch,and expounds the opportunities and challenges facing branch transformation under the framework of "new retail".The author puts forward five suggestions for transformation of "channel construction,customer relationship management and product sales,talent training,marketing services and core business development" to provide useful reference for the development of retail business in other banks.