A debate organised by accountants BDO and Manchester Business School also suggested that the tough times the sector has endured in the last few years will continue this year.
There will be fewer high profile casualties in the sector as many on the critical list a year ago , such as Comet, JJB Sports HMV and Jessops, have gone into administration over the last 12 months.
Don Williams, head of retail at BDO, told the event: "We expect the retail market to be about the same, in terms of money spent, as 2012. The sector still faces a hell of a lot of headwinds, and consumers are cautious and want new products and to be excited."
He said retailers should take heed to four areas - omni-channel, supply chain, international markets and operational discipline in terms of managment of store portfolio.
With regard to omni-channel retailing he said wireless 4G connectivity would benefit retailiers using augmented technology, while supply chains - in the wake of the horsemeat scandal in the food retail sector - are of primary importance.
Source: The Business Desk
