Catalogue shopping on steroids
Online retail is basically just catalogue shopping in most respects, other than it's far more interactive.
I think Sears and similar stores are just floundering and flailing about, looking for ways to stay relevant.
The only way I see those kinds of stores surviving is if the make retail an experience. Utilitarian and a lot of niche shopping is rapidly going online but there's still a lot that real bricks and mortar stores can offer, if they understand hedonistic, experience-seeking shoppers.
The way I see retail in 20 years time is probably more like a blend of high end, showcasing, service centres all blended with entertainment. Somewhere between the Apple Store and a high end European City Centre perhaps delivered in a mall context in most of the US because makes will have to change.
It's worth remembering though that is you go back to pre 1950s, most retail was small, personalised and counter based. We are definitely about to see a shift that's as big as the 1950s shift to self service supermarkets and malls.
There's going to be a lot of idle retail space though as the new retail economy isn't going to need all that floor space anymore.