In line with the rest of the planet and on the back of the internet, retail is going through its awkward teenager like years full of pimples, self doubt and uncertainty about tomorrow and what may be ahead.
Like a typical prepubescent the 10 years prior to the economic downturn many retailers were full of self importance, saw themselves as invincible and the centre of attention.
Come the economic downturn, consumers had less to spend and became very determined to spend it wisely.
The days of spending excess are in hiatus. Retailers have to work hard now to prove their worthiness to us and many couldn’t and can’t.
Mixed into this backdrop is the evolution of online shopping; the growing number of online shopping business models, sites and opportunities and hey presto we have a new retail environment growing out of the virtual ground.
These two factors, what’s in it for the consumer and what retail might evolve into are the topic for this weeks discussion between ABC Radio Australia’s Adelaine Ng and myself as we explore the evolution and revolution of retail.