Note: all the figures are pre covid
In Singapore, shopping malls are very popular destinations for both tourists and locals. In fact, before Covid Singapore was among the world’s top shopping destinations, ranked 5th worldwide by Business Insider and 2nd in APAC after Bangkok and the most popular shopping destination for tourists in the Southeast Asian region.
Most of the retail outlets are located around Orchard Road, in the city center. Most store-based retailers tend to be located within shopping malls and is also true for their flagship stores. It is also worth noticing, that suburban malls are growing strongly in popularity among Singaporeans.
Singapore is a highly digitalised country with 84.5% internet penetration, the second-highest rate in Southeast Asia. This means that digital innovations are very important to attract increasingly demanding customers and offer unique and personalised in-store experience. Additionally, 4.7 million Singaporeans are social network users an important factor to keep in mind when working on promotional activities and in-store customization experience.
What are the main shopping malls in Singapore?
Vivocity, opened in 2006 and located on the harbor front, in the area of Bukit Merah, is Singapore’s largest shopping mall. With over 300 shops and dining and 50 million visitors yearly, the mall is very dynamic. It hosted for instance the countdown to the new year live-streamed on TV. Its unique design evokes images of waves.
High season and the low season
There are a few periods throughout the year during which sales are higher. In particular, there are:
Thus, November, December, and January (or February depending on CN calendar) are very important months in terms of sales in the region. Additionally, shopping malls have several “card dates” to drive traffic, where their members get special discounts.
To conclude, Singapore is undeniably a relevant location to initiate sales in APAC or strengthen the position of your brand in the region. The customers have very high expectations and diversified backgrounds and thus a successful strategy requires deep market knowledge.
Choosing the right location will depend on the brand and its positioning and if you are considering an expansion in Asia or seeking advice contact us at email@example.com