05/21/2014 12:28 EDT | Updated 05/21/2014 12:59 EDT

Dx3: Retailers Need To Provide A Better Digital Experience (VIDEO)

Brick and mortar retailers that have neglected their online presence must catch up or risk falling permanently behind, says Retail Prophet founder and president Doug Stephens. Consumers are increasingly drawn to companies that provide an engaging online experience, he says.

"We live in a world where we can get whatever we want, whenever we want and it's shipped to our door in a day or two, the role of the store in the marketplace can no longer be just about the distribution of products, it has to be about the distribution of experiences," said Stephens.

Watch the full video above from the interview filmed at the AOL Conversation Studio at Dx3 Canada 2014, held in Toronto March 5th and 6th.