5 Quotes That Vividly Describe How Singapore’s Retail Might Never Be the Same Again (and 1 Final Word)

Singapore’s retail scene may never be the same again.

It is not a secret that retailers in Singapore have been facing a tougher time over the past few years. There might be several reasons for this. To find out more details, I took time recently to dip into the annual reports of major retailers in Singapore. I wanted to figure out what the retail scene in Singapore looks like from the eyes of the major players.

What I found were some vivid descriptions of the challenges that retailers face.

1. The shift to online shopping continues – click here

2. Few retail segments will be left untouched – click here

3. Bricks and clicks – click here

4. Gone with the wind – click here

5. The new normal

In its latest annual report, luxury watch retailer Hour Glass Ltd (SGX: AGS) acknowledged the changes in the retail landscape. Chairman Henry Tay added:  

“ That our management and sales teams have been running twice as hard just to remain in the same place. This pace of activity has become our new normal and our teams have adjusted to this present state of play.”

As the retail landscape evolves, retailers will have to adapt to the changes and the pace in which the changes happen. This statement brings us to the final word.  

The final word

The title of this article is about how Singapore’s retail might never be the same again.

Paradoxically, the changes in the retail landscape are here to stay but it is also likely that the retail landscape will continue to evolve beyond the current challenges. In essence, simply changing to an omni-channel approach will not be the final stop for Singapore’s retail.

As investors, we will have to see whether Singapore’s retailers will continue to accept the changes that are happening in front of them – and adapt accordingly.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Chin Hui Leong doesn’t own shares in any companies mentioned.