The retail industry is dealing with an economic downturn and simultaneously going through a revolution, the problem is that we are over hyping the economic and under valuing to the revolution.

We are definitely facing difficult economic times and pragmatically we have do everything we can to keep the doors open (that makes short-term sense), but unless we understand that retail is going through its greatest upheaval in the last 60 years, when we moved from strip shopping centre to malls and forever changed the way we shop, the where, the why, the how and the what we shop for we are missing the medium to long-term profitable possibilities.

There are great retailers large and small coming to terms with this new retail landscape and finding innovation and profit amongst the emerging possibilities.

This week David Dowsett of Radio ABC Wide Bay and I pick up on this and chat about the future of retail, what it might become, how we might shop and what new technologies are on the horizon.