How digital technology is reshaping the retail market
In 2019 Mark Pilkington published his book - 'Retail Therapy. Why the Retail Industry is Broken - And What Can Be Done to Fix it' and it seems now more than ever, the industry needs fixing.
Mark explains to The Agenda's Stephen Cole how digital technology is reshaping the market, demographics are changing and how the balance of power is shifting from sellers to buyers.
Mark also points out the effect on retailers depends on how high the internet penetration was:
"In Northern Europe it was quite high and we saw quite a lot of damage to places like Holland and Germany. Southern Europe only had internet penetration levels of around 5% so it had much less of an effect."