A retail expert says every business and brand will have to go digital to survive but bricks and mortar stores are not dead.
The Store WPP chief executive, David Roth, told a seminar on the future of retail in Auckland on Tuesday that the old retail model is on life support.
After the collapse of the Lehman Brothers which led to the global financial crisis, he said stores ran out of ideas, consumers ran out of money and there was too much physical retail space.
Mr Roth said retailers have to adapt to dramatic changes brought by the internet, but there is still a place for the physical store.
The Store WPP is the retail arm of a global marketing and communications company.