From brick-and-mortar to ‘click-and-mortar’

SINGAPORE (Nov 18): It doesn’t take a rocket scientist to understand that Singapore’s consumer habits are evolving as we know it.

The Great Singapore Sale (GSS), for instance, has historically served as the most anticipated calendar staple to retailers and shoppers alike. However, the annual event has only brought business owners to new levels of disappointment in an already-ailing retail industry this year.

Retail sales excluding motor vehicles continued to dwindle in June and July on a y-o-y basis, indicating a lukewarm response to GSS promotions. Research analysts have been observing lower footfall and smaller crowds at brick and mortar outlets during these periods as well – much to the chagrin of not just retailers, but also mall owners and retail REITs.

---

Related Stories

• Can SGX afford to wait up to a year for reforms?
• Alibaba anoints new chief in revamp of stalling commerce arm
• Institutions to edge further into digital finance, focus on risk mitigation: Moody’s Ratings

---