Retail Therapy

Almost weekly, the news is full of stories about disappearing retail chains. From House of Fraser and BHS to Toys'R'Us and Sears, recognised names are vanishing overnight—as such large organizations disappear, so the malls, shopping centres, high streets and main streets become emptier and less appealing to visit.

The retail sector is hugely important in terms of job numbers: in the US, it employs around 30 million people (directly and indirectly); in the UK, around 10 million. As such, anything that jeopardises the retail sector will have a deep and lasting impact on millions of lives, as well as on public policy. While many blame the 'Amazon effect', this is an oversimplification. Deeper forces are at work that are changing people's relationships with brands, the balance of power between producers and consumers, and the whole nature of the supply chain that has existed since the industrial revolution.