In companies where excellence in logistics is decisive for the outperformance of competitors, and logistics has an outspoken role for the strategy of the firm, there is present what we refer to here as a "logistics-based business model". Based on a multiple case study of three Nordic retail companies, the purpose of this article is to explore the characteristics of such a logisticsbased business model. As such, this research helps to provide structure to logistics-based business models and identifies a way forward for companies for whom logistics and distribution is a major concern for the overall strategy of the firm.Key words Business models, strategic management theory, multiple case study Paper type Research paper Contact details CHARACTERISTICS OF A LOGISTICS-BASED BUSINESS MODEL AbstractIn companies where excellence in logistics is decisive for the outperformance of competitors, and logistics has an outspoken role for the strategy of the firm, there is present what we refer to here as a "logistics-based business model". Based on a multiple case study of three Nordic retail companies, the purpose of this article is to explore the characteristics of such a logisticsbased business model. As such, this research helps to provide structure to logistics-based business models and identifies a way forward for companies for whom logistics and distribution is a major concern for the overall strategy of the firm.