The purpose of the study is to elucidate linkage of Omnichannel retail business model with innovation and technological advancements. The study is exploratory and qualitative in nature, based on primary and secondary data sources collected from varied retail sectors such as fashion, furniture, eyecare and electronics . The study has used Business Model Canvass (BMC) as a tool for strategic analysis. The study presents findings about business model and strategies in Omnichannel context from Indian retailers. The findings of the study posits four main dimensions resultant of digitalization and technological advancements in Omnichannel retail, namely Omnichannel Intensity, Organizational Structure Integration, Operations and Supply Chain Management Innovation, Data Analytics and Intelligence. Cross-channel Integration and Data Analytics & Intelligence have been found to be contributing enormously towards the strategic growth of Omnichannel retailers, thus emerging as the prominent managerial implications of the study.