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As goods become more standardized - and mass production has that effect, standardizing product - the distinguishing factor between one store and another is going to be how skillful stores are in satisfying customers and making it a pleasant experience instead of a hostile experience.

I think shoppers are looking for newness and creativity. Look at C. Wonder, for instance. They're dancing in our stores. We don't believe in retail like retail was done in the past. We believe in disrupting the whole environment, offering them amazing value in an amazing package of fun, excitement and whimsy.

As retail goes through a fundamental shift into the digital world, I believe Ocado's model and the high standards of customer service it provides will see it emerge as a powerful online player.

Customers don't just want to shop: they want to feel that the brand understands them.

Like Disneyland, luxury retailers have long had to figure out how to overcome customers' natural inertia. Unlike less pricey stores, they tend not to attract idle browsers who make impulse purchases.

One of Netscape's main attractions to customers from Day One is that we provide alternatives. And that's cherished by many customers - certainly not all.

And so if your competitors aren't growing, if there isn't a competitive reason to grow, and you want focus and discipline to add customers to existing stores, you adjust your strategy.

Going forward, we are mindful of the challenges we face in the competitive retail landscape, but we have demonstrated that our concept of building compelling brands that focus on the customers' lifestyles can produce superior results. We will not waver from that concept.

Yes, e-commerce is a strange situation for an old guy like me. You can buy a TV online, OK, but to buy a dress or shoes? Ugh. The customer has to go back to the store and breathe and smell and have a good time. Because shopping is a good time - like going to a nice restaurant.