Perhaps it's no wonder that retailers Oroton, RCG Corp, Adairs have downgraded their guidance twice this year, Myer and Harvey Norman shares have reached 1.5 year lows and The Reject Shop's shares have reached an 11-year low.
The number of shoppers at shopping centres, strip shops and discount shopping centres has fallen 4.4 per cent this year, compared with 2016, according to figures tracking people entering and exiting stores. 2016 was also weaker than the previous year, due the late arrival of winter.Â
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Get to know the online retail giant before it sets up shop on Australian shores.
The Australian Retail Index shows is produced by ShopperTrak, which installs devices to monitor foot traffic at more than 2,500 sites owned by dozens of brands selling products such as apparel, jewellery, footwear and sporting goods.
The brands are anonymous. The figures are then used to by the retailers to improve their sales conversion rates.
​ShopperTrak monitors foot traffic in the Australian major cities, except Tasmania and Darwin, and across the globe, with head offices in the UK and Chicago.
 Adam Ioakim, ShopperTrak general manager ANZ & South East Asia, said recent high-profile retailer collapses - such as childrens clothing company Pumpkin Patch, Payless Shoes, and Sydney suit-maker Herringbone and upmarket stablemate Rhodes & Becket - had been driven by "rising costs and international competition."
"Supply chain efficiencies can impact this which don't adversely affect the large international retail businesses who are able to turn around products from manufacture to in-store in a matter of weeks," he said.
Mr Ioakim said he didn't believe Australia was headed for a retail recession, as recently suggested by investment bank Citi, but the market would continue to be "very challenging."
"Retailers are having to work harder than ever before for every transaction. The key here is adapting to the changing face of consumer demand, and how they shop. Consumers are spoilt for choice when it comes to options including in store, online and mobile and so it has never been more convenient to shop than right now."
He added that shoppers were "more cautious with discretionary purchases and my view is that this is partially down to a reduction in disposable income due to rising housing and utility costs and a slowdown in wage growth."
Mr Ioakim said online sales were growing faster than sales in bricks and mortar, but still accounted for less than 15 per cent of total retail spending. There was "still a place for the physical store yet these need to be adapted to become more experiential which will drive people into stores," he said. "There are some great examples of this including Cotton On, MJ Bale, and Camilla."
"Retailers are also facing rising pressures from almost year round discounting, while costs continue to rise which creates pressure on gross margins. It was only a few years ago that there would only be two major sales events per year, one after Christmas and one mid-year.
"Nowadays customers walk into a stores with the expectation of finding a great deal, or a product at a lower price point and as a retailer this a very tough cycle to extract yourself from."
Rod Orrock, the CEO of discount apparel retailer Best & Less, said the ShopperTrak figures provided a "very clear picture that retailers are not seeing the traffic that they paying some pretty big rents for."
 "Some segments of the retail market would be showing poor month on month and year on year negative performances and some markets are worse than others as well. In amongst all of that you will still have some winners.
"Household income levels are not growing, household savings continue to grow and the cost of living continues to rise.
"Customers are not on strike they are just more considered than they ever have been, they have less available to spend, consumer confidence is soft.
"The federal budget did nothing to drive consumer confidence or stimulate spending. If you're a retailer with an offer that is overpriced, and you have little capacity to clearly differentiate itself from the pack then you are probably doing it very hard." Â
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