“It is an exciting time when it comes to retail,” says Piers Fawkes, Founder and President PSFK. “There is transition taking place and some of that is painful. It will continue to be painful in some places such as department stores. But we are seeing a lot of really exciting ideas and innovations. It’s like retail has woken up.” His company just released the latest results of a trend study which tracks the evolution of retail in all of its forms. Highlights from the study follow below.