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The worst is yet to come for Singapore’s retail scene, say analysts
Retailers are stuck between slowing sales and high operating costs.
It may be an understatement to say that the city-state’s retail environment is slowing down, as malls continue to suffer from skyrocketing vacancy rates.
According to a report from OCBC, consumer confidence has declined from an already pessimistic level of 94 to an even lower 88 degrees.
Additionally, OCBC says latest data also include declines in consumer prices for the 18th consecutive month.
However, while the outlook for the sector remains soft, retail firms such as Sheng Siong, BreadTalk, and QAF continue to post positive performance for their Singapore operations, demonstrating brand strength.
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