International chains pull down the shutters on back of intensifying shopper dearth

Consumers are shying away from department stores.

A dearth of shoppers has pushed some multinational to pull down the shutters at some of their outlets here, a report by Savills revealed.

Among the more high-profile victims are Marks and Spencer and John Little’s, both owned by Al-Futtiam group, which closed three outlets each in March.

“[These closures] has brought to light the sluggish sales in the department store segment, largely due to the change in shoppers’ habits and preferences,” stated Savills.

Data from the Singapore Department of Statistics (SDOS) show that the annual retail sales growth for department stores has slowed significantly during the last three years from 2012 to 2014.

“This slowdown spurs department stores to seek new retailing strategies to differentiate themselves from both their traditional competitors and as well as online retailers. Developing an additional online presence may therefore be the way forward for traditional retailers,” stated the report.

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