Digitalization has changed the status quo of the retail industry and shows no sign of slowing down. The availability of cheap data and smartphone has further changed the retail landscape. Nowadays, shopping is not just about buying a product or service, rather it is about the whole customer journey and experience. The retailers are facing challenges with digitalization, although they have multiple channels to offer to customers, however, the retailers are struggling to synchronize physical and digital channels. This research-in-progress paper outlines our approach to eliminating the ambiguities regarding the term omnichannel in itself and offers retailers a guideline to successfully transition towards omnichannel with business model innovation. Business models and information systems play a crucial role in the implementation of the omnichannel approach as drivers and challenges are often technology and organizational related. With insights gained by thorough literature review and multiple case studies, we plan to provide a comprehensive understanding in the area of omnichannel transition.