Today, the Oxford Institute of Retail Management at Saїd Business School announced the launch of a major 18 month study into the future of retail at a time of unprecedented challenge and change.

"The traditional retail business model is clearly broken," says Dr Richard Cuthbertson, Director of the Institute, who is leading the research. "The experience of high street chain GAME now on the brink of collapse, is no longer unusual as we see the negative impact of retail sector change – redundancies, bankruptcies and takeovers as retailers try to adjust to new channels and formats, reduce costs, improve efficiency and survive.

"At the same time, emerging technologies are providing the best retailers with new opportunities to interact with customers, with greater potential to improve service, and increase loyalty, sales, and profitability."

There will be no lessening of pressure on retailers says Dr Cuthbertson. "It is well known that factors such as rising retail costs, changing customer expectations, the need to rejuvenate and reshape our town centres, remodel out-of-town stores, and develop the many opportunities presented by online and mobile technologies, all mean that the clock is ticking for traditional stores.

"We will talk with individuals from all parts of the retail sector and with policy makers, and will review retail experience overseas as well as technology developments, to shape and test possible scenarios for retailing in the years ahead. The outcome will be the most thorough picture available of what the future of retailing may look like."

Sponsored by Intel, the research project will particularly focus on the relationship between digital and physical retailing as retailers look for the optimum approach to managing these two offerings.

The scope of the study extends beyond technology alone and will take a broad view of retail change including the socio-economic implications such as new and varied employment opportunities and the reshaping of the traditional town centre.

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