With the gradual deepening of scenario elements in the embeddedness of new retail, on the one hand, it highlights the fact that the new retail business model fails to keep pace with the development of the times, on the other hand, it also provides conditions for the accelerated innovation of new retail business model. From the scenario perspective of business model, first deconstruct the existing new retail business model, then integrate the scenario elements into the deconstructed business model elements, so that the business model elements have the scenario function, and then form the theoretical framework of new retail business model innovation, and then reconstruct the scenario value of the new retail business model as the contact point, with the new retail business model this paper designs the realization path of scenario Innovation of new retail business model. Finally, this paper uses the method of multi case study to demonstrate the scenario Innovation of the new retail business model. The results show that the scenario is the direction of the new retail business model innovation, the value proposition is the genetic material of the new retail business model innovation, and the scenario configuration is the core capability of the new retail business model innovation.