The group said it was likely to have to discount more than last year around the world in the coming months.

This comes after Amazon announced plans in April to spend $4 billion to triple the size of its rural delivery network by adding 200 new delivery stations.

UNFI, a major partner with Whole Foods, became aware of a cyberattack on June 5

Shein relaunched in India in February following a five-year ban, which had stemmed from concerns that China's government was stealing user data from the retailer's app.

However, analysts warn that a prolonged trade war could produce lasting macroeconomic impacts on the country.

Pressure from tariffs and weak store traffic is offsetting any positive feedback on new products.

K-ecommerce's survey found that just 14% of shoppers believe that brands clearly explain price changes to customers.

A focus on efficient returns can help retailers strengthen their environmental, social and governance efforts, by reducing volumes and mitigating fraud. 

The April trade report showed imports of consumer goods slumped $33 billion, largely due to a sharp decline in inbound shipments of pharmaceutical preparations.

Trump blasted Walmart in May on social media after the retailer said it would raise prices of some goods in the wake of new tariffs.