Retail sales fell 4.4% in June.
While sales and massive discounts have been a yearly tradition for Singaporeans, it seems like they won’t be attracting millennials to retail stores soon.
According to a report by RHB Research, the local, young working crowd they surveyed would not go shopping during the Great Singapore Sale despite the discounts.
The report added that the shopaholic has set their sights on Orchard Road.
“This year, we went to Orchard Road over 10 times – on both weekdays and weekends – to do ground checks. Based on our observations, there were still decent crowds at Orchard Road on the weekends, albeit less than last year,” the report noted.
“However, the shopping stretch was very quiet and empty on weeknights,” it added.
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