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Experiential commerce is speeding the decline of retail jobs and malls.
"I saw the decline of retail happening before my eyes and the lack of tools out there provided for the traditional sales force and wanted to power them to service the future," said Goad. "Being super knowledgable about products your store carries doesn't do customers any good if you're stuck in a store and not accessible from a screen these days".
The opening of the Willow Grove Park Mall led to the decline of retail along Old York Road in Abington and Jenkintown, with department stores such as Bloomingdale's, Sears, and Strawbridge & Clothier relocating from this area to the mall during the 1980s.
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Upon recognising these problems, governments have responded to the decline of traditional retail districts with retail-led urban regeneration.
"The growth of e-commerce and the decline of physical retail means that local economies are imploding".
The road has attracted developments along former industrial land to the west of the town, including a large Asda supermarket, although it has exacerbated the decline of the retail outlets in the town centre.
A big pull on the market yesterday came from a decline of 0.9percentt in retail sales for May.
The city had been seeking to offset the decline of its downtown retail district ever since Macy's and Malley's department stores closed in the 80's.
While the increase was not much more than had been expected, analysts said, it was from a base in May that was considerably higher than first reported as the department's statisticians, using more complete data, transformed what had been a decline of 0.3percentt in retail sales into a gain of 0.3percentt.
An investor is betting on a further yet limited decline for retailing stocks ahead of expiration in 10 days time, buying 27,000 put options at the $37.00 strike while selling exactly twice that amount at the $36 strike.
Verdict Research, a retail consultancy, is forecasting a 4.2% decline in the value of retail spending, excluding food and internet sales, in 2009.
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