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Singaporean companies need novelty to retain its customers, say analysts
Their products shouldn’t be easily replicated.
Residents of the city-state crave novelty, and analysts say companies need to continuously innovate and introduce new products to retain its customers.
According to a report by RHB Research, for example, the bakery market in Singapore is saturated with many small individual players, and baked products such as BreadTalk’s “pork floss bread,” for example, can be easily replicated.
“The company will need a variety of stall offerings at its food atriums to compete with other food courts, coffee shops and hawker centres, in our view,” the report added.
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