It’s not all doom and gloom for the retail sector.
Higher operation costs and tight labor dent sales in Singapore as e-commerce surge.
Nevertheless, to combat the surge of e-commerce, the city is seeing increased F&B components in shopping malls and department stores, as such experience-based concepts are irreplaceable by online retail, says Cushman & Wakefield (C&W).
Data from C&W show that retail sales excluding motor vehicles) fell 3.4% year-on-year (YoY) in the first quarter of 2016. Thanks to surging number of Chinese by 53.2% YoY from the Janiary-April 2016 period, hopes that it may not all doom and gloom for the retail sector remain.
Here are the five most significant store openings in Singapore led by F&B sector:
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