In recent columns I have discussed the significant impact that e-commerce has had on the retail sector: big boxes are shrinking. One just has to look at Best Buy. Once a category killer, it's now a shadow of its former glory.

Now the biggest name of them all announces that is succumbing to the internet. Walmart Stores, the world's largest retailer, announced last week it is slashing the number of the massive supercenters that it has on the drawing board, instead investing in e-commerce and smaller stores closer to home.

The giant retailer, with a massive physical plant, is finding itself on the wrong side of the trend to online shopping. To counter the trend, Walmart is doubling down on its e-commerce investments, spending $1.5 billion over the next year alone, mainly on mega warehouses to support web orders.

The significant sea change impacting retailing necessitates a change in thinking about the talent that retailers and mall owners need on the bench to address dramatically changing business models. We recently recruited a head of Digital Media and Technology for a mall owner to focus on strategy, innovation, insight and leadership on consumer digital/social media channels, and to also focus on consumer technology. This role would not have existed 5 years ago, and now this role, and roles like it, are creating the new order.

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Retail