Time needed for Johor’s retail market to bounce back

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Singaporeans and tourists are the main drivers of Johor’s retail market, and a full recovery will only happen when they return. FMTNews Johor

Johor’s retail industry relies heavily on regional tourism and, in particular, Singapore shoppers.

The association said retailers began to see declining sales due to the spread of Covid-19 and the implementation of the Movement Control Order in March, which led to a drop in the number of foreign tourists. He said shopper footfall at malls and shops that rely on Singaporeans and tourists had dropped drastically.

“Retailers are looking at cost-cutting … from rental rates to workforce and supplier cost readjustments, with some pushing their business online via digital marketing and e-commerce.” Customers will go back to bricks-and-mortar stores when they want to experience the ambience a virtual store cannot provide. KGV International’s Samuel believes more retailers will adopt an online-offline business model.

In fact, Samuel said, the trend towards internet retailing had already begun before the pandemic, with more retailers going online to reach out to a wider market.

 

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