Phase 2 to benefit F&B players at expense of grocery retailers: analysts

SINGAPORE (June 17): As Singapore is expected to enter Phase 2 of the reopening of its economy on June 19, F&B players are poised to benefit from the increase in traffic flow, according to analysts.

This, however, comes at the expense of grocery retailers, which are expected to see less footfall at their respective supermarket outlets.

“With the sooner than expected implementation of Phase 2, we are now slightly more positive on consumption spending in 2H20,” DBS Group Research analysts Alfie Yeo and Andy Sim write in a note dated June 15.

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