The 131-year-old film pioneer Eastman Kodak recently filed for bankruptcy protection as the company struggled to adapt to an increasingly digital world. Kodak has become the latest giant to fall in the face of advancing technology. Last year, the Borders Group liquidated after failing to gain a stronghold in e-books, while Blockbuster, the video-store network, sold itself to Dish Network in 2011 as its retail outlets lost ground to online competitors like Netflix. Australia’s retail environment has to change or face
imminent extinction.
The internet, and in particular social media, can pack a pretty powerful punch – four billion views per day on YouTube, the average Twitter user boasts 126 followers, most of whom they’ve never met, and more than 10 million Australians claim to use Facebook each month.
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