Mall landlords need to combat shopper fatigue.
After the exit of several large retailers in 2015, mall landlords and tenants alike are scrambling for new ways to attract shoppers in Singapore.
According to a report by DTZ, retailers are choosing omni-channel marketing and unique store concepts as their weapon of choice to combat the sales slowdown in Singapore.
“As landlords become more flexible, brick-and-mortar retailers have more leeway to experiment with new and unique retail offerings to improve the overall shopping experience,” said Anna Lee, DTZ’s Director of Retail.
A case in point is the opening of the first Café&Meal Muji in September 2015 at Paragon, which is located adjacent to its existing Muji store.
After the opening of the F&B outlet to complement its existing retail offerings, Muji recorded about a 40% y-o-y increase in its store sales.
In the same year, Latulle, a lifestyle concept store also offering a full service café as well as fashion apparels, opened its second outlet at Wisma Atria. Its first outlet opened in April 2014 at Orchard Gateway.
Some landlords have also collaborated with online retailers such as Zalora and Love Bonito via pop-up stores to reignite consumer interest.
“With the softer market, landlords have certainly become more open to exploring new retail concepts to combat retail fatigue,” Lee said.
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