The Business Times, 9 May 2016: Time to change adversities in opportunities
Andrea Bonardi, Managing Partner, Texere Advisors.
The high vacancy rate of retail space in Orchard Road is due as much to the economic slowdown as to the average quality of retail space. Shopping malls should adapt to increasingly sophisticated customers looking for experiential shopping and an engaging retail environment in which to spend time and shop. Vacancy rates fall – to zero, too – in malls which are able to change and evolve along with shoppers’ tastes and preferences. The higher quality of retail malls in neighbouring countries, such as Thailand or Malaysia, has also reduced the competitive advantage once enjoyed by Singapore, thus reducing tourists’ appetite for shopping here.
The Business Times, 9 May 2016
https://www.businesstimes.com.sg/views-from-the-top/time-to-turn-adversity-into-opportunity
Asia One, 9 May 2016
http://www.asiaone.com/business/what-are-main-reasons-retail-space-oversupply-singapore
