Will ka-ching ring loud enough for retailers?
Higher sales are expected with the Great Singapore Sale, but firms are not very optimistic especially retailers of motor vehicles.
According to the Singapore Department of Statistics, a net weighted balance of 14% of firms in the retail trade industry is less upbeat about the business climate for the period of April to September 2012 over October 2011 to March 2012. The Department said that retailers of motor vehicles expect the reduced Certificate of Entitlement quota to have a negative impact on their business.
Meanwhile for the next months ending June 2012, a net weighted balance of 9% of firms in the retail trade industry expects an increase in revenue. Department stores as well as retailers of wearing apparel & footwear and jewellery & watches expect higher sales with the upcoming Great Singapore Sale.
The Business Expectations Survey for the services sector, conducted quarterly by the Singapore Department of Statistics, covers some 1,500 enterprises in wholesale trade, retail trade, transport & storage services, accommodation, food & beverage services, information & communications services, financial & insurance services, real estate, business services and recreation, community & personal services.