Given the general state of unemployment, the auto industry and consumer confidence, we are seeing lots of ideas on how to cope. However, an economy in turmoil is giving many retailers a chance to go beyond merely coping and to seriously reinvent.

We have been inundated with retailers just coming into the online game at what some would say is a crazy time. Contrary to what you may think, many seem actually motivated by the current economic condition. The employee talent on the market is awesome and not as expensive as two years ago, for one thing. Secondly, over the past nine months, many established online retailers have not invested heavily in their stores, marketing or brand efforts due to financial constraints and because very little in the way of new, “must-have” site technology or functionality has emerged.  All of this gives new entrants with little to no infrastructure “baggage” a leg up on innovation, and has gone a long way to level the playing field. (more…)