04/11/2013 02:35 EDT | Updated 06/11/2013 05:12 EDT

Dx3: Mountain Equipment Co-op CEO says Technology Moving Faster Than Retail Sector Can Keep Up (VIDEO)

Mountain Equipment Co-op CEO David Labistour says the fast pace of technological change across society has also changed the retail sector in profound ways.

Speaking at the AOL Conversation Studio at Dx3 2013, held March 6-7 at the Metro Toronto Convention Centre, Labistour says rapid change has disrupted old business models, particularly in the way products are marketed.

He says the old life cycle of introducing a product to market, exposing it to early adopters, then to fast followers, that in turn drove its acceptance to the wider marketplace has profoundly changed because of technology.

"Today things can go from one to a million over night," said Labistour, citing the rapid adoption of the iPad as an example. "I don't think the consumers really know what they want until it hits them."

Watch the interview above.