"We're in the middle of a massive transformation." However, television will continue to play an important role in marketing and most advertising agencies still focus on that medium, LeFurgy concedes.

One thing that retail executives can do is familiarize themselves with search-engine advertising that brings up a company's name after a consumer enters a product they are looking for on a site such as Google, said Michael Jones, chief operating officer of North Carolina-based consulting firm Channel Advisors. It's important for retailers to catch on to this trend now, or "you will have smaller players that could be biting at your heels faster than you know."

Meanwhile, retail executives told attendees their expansion plans and strategies for the near future. Many speakers represented companies that have slowed growth due to recent tough financial performances.