Retailers are wringing their hands over online seller Amazon's likely arrival in New Zealand, as the competition for customers' hard earned cash gets even uglier.
Kimberleys and Topshop are the latest retail chains to go under in a highly competitive market.
"Costs are certainly going up and turnovers are staying very flat they're probably the biggest challenges across the sector," First Retail Group managing director Chris Wilkinson said.
Mr Wilkinson believes brick-and-mortar stores will need to adapt to compete with online giants like Amazon.
"Retailers need to look for differentiation in their range in service in experience all touch points of their business," he said.
Industry experts say the surviving stores of the future will be a lot smaller and more focused on what the customer wants.
Amazon has already confirmed it will be launching into Australia next year and they have reportedly purchased a warehouse in Melbourne ahead of the launch.
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