SINGAPORE: With the retail industry “severely impacted” by COVID-19, there is a need for retailers to “break new ground” and transition to a new business model in order to survive, said Trade and Industry Minister Chan Chun Sing on Monday .
He said that the cyclical forces will continue to impact the retail industry in the near-term amid lower consumer confidence and constrained purchasing power. As such, the previous model of of relying “mainly” on the domestic market “will still be necessarily, but insufficient going forward”. He added that retailers need to move beyond the current model of arbitrage and being a middleman, and focus on adding value to product and services.
The likes of CapitalLand , Capitalmall also need to move away from traditional high rental for shops before more move out , landlord and building owners really do not care if there is Covid19 or recessions , the rental remain
I read mom the article. Mom: Did he just say a lot of things, but really has no value in his message? Me: You’re not a retail expert. Mom: Neither is he.
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Source: The Straits Times - 🏆 8. / 63 Read more »
Source: The Straits Times - 🏆 8. / 63 Read more »