After discussions with CNBC’s Krystina Gustafson, she delved further into the DynamicAction Retail Index: Spring 2016 findings. Gustafson utilized the research compiled around new customer acquisition and 1st-to-2nd-time buyer percentages to project whether the retail industry is poised for a comeback or setback in the second half of the year.

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"[Speaking] broadly, they're not going to see a turnaround in the latter part of the year," said John Squire, CEO of DynamicAction.

Data gathered by Squire's analytics firm indicates retailers are consistently struggling to drum up sales in two major ways. For one, as retailers universally slash prices to lure in shoppers, they're having a tougher time getting those customer to stick around   for another purchase. That's because their loyalties tend to ebb and flow with a company's prices.

So far this quarter, retailers' ability to persuade a customer to make a second purchase within three months is down 5 percent on average, according to DynamicAction. At the same time, the firm's data show that new customer acquisition is trending lower, indicating a broader slowdown in consumer spending.

"That's a metric that tells you your business is going to contract," Squire said.

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