What: In Singapore, mall rents are increasing while sales remain stagnant, creating a challenging environment for retailers.

Why it is important: This situation highlights the financial pressures faced by retailers in Singapore, as rising operational costs are not matched by corresponding sales growth, potentially impacting profitability and sustainability.

Singapore's retail sector is facing a challenging scenario where mall rents are on the rise, yet sales have not seen a corresponding increase. This disparity is causing concern among retailers who are struggling to maintain profitability amid higher operational costs. The situation underscores the need for strategic adjustments and innovative approaches to attract consumers and boost sales in a competitive market. Retailers are being urged to adapt to changing consumer preferences and explore new ways to enhance the shopping experience to drive foot traffic and sales in malls.

Rising rents, stagnant sales: The dilemma facing Singapore malls