Despite a strong start earlier in the year, the retail industry has tumbled by 0.4 per cent in March.
Interacting with customers across multiple channels and investing in the right mix of digital and traditional channels will the major challenges for Australian businesses, an Optus report has revealed.
Following a weak level of spending in February, online sales growth rate in March was modest, according to the NAB Online Retail Sales Index.
Consumer confidence remains stable after dropping only one index point in 2013Q1 to 94 points versus the previous quarter.
With Mother's Day just around the corner, IBISWorld has revealed Australians are expected to spend almost $1.4 billion on Mother’s Day gifts this year.
Retailers are pleading for another interest rate cut to 2.5 per cent when the Reserve Bank of Australia meets in May.
Signs of financial pressure have eased in Australia during the first quarter of the year with further signs of economic conditions stabilising.
The Consumer Price Index rose 0.4 per cent in the March quarter compared with the 0.2 per cent rise in the December quarter 2012.
One in two department store customers also shop online, the latest Roy Morgan research shows.
Further potential interest rate cuts could potentially see a healthier retailer environment, according to the latest business outlook report by Deloitte Access Economics.