Good evening students. My name is Peter, and I'm the director of the Retail Association. I have been asked if I would like to make a speech about "future of retail" for you students who study retail marketing and management here at the university.

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Many choose not to go down to the shopping centers anymore because we live in a more digitized world. Today, people are much busier than they used to be, which is why online shopping is an easy time saver.

The fact is that online trading saves us a lot of time, so we spend time on something else. If we look at Amazon which is perhaps the leader in online commerce. Amazon has set up a cashier-less store in downtown Seattle.