For a very long time, the retail business in Singapore has felt the results from the e-commerce growth.
Final 12 months, many well-known native and worldwide manufacturers — from Dwelling-Repair to Sasa to Eternally 21 — threw within the towel and introduced closures.
This 12 months, the Covid-19 pandemic has solely made the scenario worse for a lot of manufacturers.
The circuit breaker and safe-distancing measures put in place to make sure public well being has additionally resulted in a plunge in footfall for brick-and-mortar shops.
Within the first few months of 2020, Singapore has already seen a couple of closures, with shops shifting on-line as a substitute.
In finish March, Hong Kong way of life retailer Kapok introduced its closure, shifting to a very on-line mannequin.
Over the weekend, Singapore’s beloved native bookstore BooksActually, and British trend model Topshop and Topman additionally introduced that they’re closing their bodily shops as nicely.
BooksActually Will “Rework Absolutely” Into An On-line Retailer
BooksActually was based 15 years in the past in 2005 by Kenny Leck after which co-owner Karen Wai.
Its present location in Tiong Bahru is one which holds fond recollections for a lot of Singaporeans — with its thriller e-book merchandising machine and three resident cats.
Nevertheless, on September 13, the bookstore took to its social media channels to announce the closure of its solely retailer at Tiong Bahru.
“Because the world modifications round us, the bookstore has to maneuver in tandem as nicely,” mentioned Kenny in a separate social media publish.
He additionally assured followers that he plans to proceed organising literary occasions when doable, and that the staff at BooksActually is able to make its on-line retailer a actuality after spending the primary half of the 12 months on-line.
The Closure Of Topshop And Topman’s Final Retailer In Singapore
On September 11, British trend manufacturers Topshop and Topman’s model supervisor, Wing Tai Retail, confirmed the closure of its Vivocity outlet.
The Vivocity outlet, which is its final in Singapore, can be formally closed this Thursday, September 17.
Over the weekend, a number of “sale” indicators have been seen on the retailer, which attracted a snaking queue.
Topshop and Topman has been in Singapore since 2000, and its departure from Singapore will see it transitioning to a very on-line retailer as a substitute.
A Slate Of Everlasting Closures
Different notable shops in Singapore which have left our shores completely this 12 months embody trend model Esprit, and sports activities retail chain Sportslink.
Apart from a fall in clients, rental and manpower prices additionally stay an issue for a lot of operators.
Therefore, many are having to depend on on-line channels as a substitute for enhance gross sales.
Grants just like the E-Commerce Booster Package deal administered by Enterprise Singapore are thus helpful for these shops.
The grant will cowl 90 per cent of the prices required to arrange operations on Amazon Singapore, Lazada Singapore, Qoo10 and Shopee.
Nanyang Polytechnic Faculty of Enterprise Administration director Esther Ho informed The Straits Instances that shifting on-line would doubtless assist manufacturers reduce the pressure on sources as a result of pandemic.
“The footfall in malls has taken a success, so it’s well timed for companies to strive scaling up their on-line gross sales, with out concurrently struggling a drain of their sources in bodily shops,” she mentioned.
Featured Picture Credit score: Hype and Stuff, Weekender