I refer to the report “Reeling retail sector retools as hard times begin to bite” (April 17). The retail scene has not seemed to improve much in the past five years. New or old, I can see similar brands in almost every mall I visit.
Why have the same brands in every mall when Singapore is so small and it takes little effort to travel from one location to another?
It seems to be that by being in every mall, retailers end up diluting their profit while increasing their operating costs. Some brands started out with a splash, but their outlets have become quiet, even on weekends, as they have opened more branches.
I also question whether so much land needs to be released for the development of shopping malls when Singapore’s population is small. Even with tourists, there does not appear to be a need for more malls.
Retailers may have forgotten the benefits of exclusivity — by opening only a few outlets — while developers may wish to consider the long-term viability of their business, either by adjusting rents so their tenants can manage costs or by injecting fresh offerings into their retail mix.
They should look beyond the profits earned from rentals and take into account the need to keep the retail scene vibrant, as it ultimately affects the attractiveness of their properties and their survival.
Why have the same brands in every mall when Singapore is so small and it takes little effort to travel from one location to another?
It seems to be that by being in every mall, retailers end up diluting their profit while increasing their operating costs. Some brands started out with a splash, but their outlets have become quiet, even on weekends, as they have opened more branches.
I also question whether so much land needs to be released for the development of shopping malls when Singapore’s population is small. Even with tourists, there does not appear to be a need for more malls.
Retailers may have forgotten the benefits of exclusivity — by opening only a few outlets — while developers may wish to consider the long-term viability of their business, either by adjusting rents so their tenants can manage costs or by injecting fresh offerings into their retail mix.
They should look beyond the profits earned from rentals and take into account the need to keep the retail scene vibrant, as it ultimately affects the attractiveness of their properties and their survival.
