Singapore has an unofficial pastime and it is shopping. Famous and cult brands alike are housed in many shopping centres in the country to cater to just about anyone’s taste and preference. However, the retail face of the country has seen many changes of late, thanks to the fast pace of technology. The strength of consumer preference for digital has brought e-commerce to the forefront and is expected to be worth US$5.4 billion by 2025.
To counter the effects of e-commerce, extending online customer interactions offline and social conscious design of retail spaces can provide a slight advantage in driving revenue offline.
Brick-and-Mortar Isn’t Going Anywhere
Despite the rise of e-commerce, certain products are just harder to sell online. Selling cosmetics online is much harder to sell than books or electronics. Consumers are too used to smelling a scent or trying on eyeliner in-store before deciding to buy. In a report by Frost and Sullivan, Singaporean customers still hold value to physical stores due to their convenience and accessibility. Knowing this, shopping mall operators in the country have thought of several methods to counter the loss of patrons – local and international.
Click and Collect
Rather than shopping using laptops or mobile phones, an incentive to go to one of shopping districts in Singapore is becoming a welcome new adventure for consumers. Many retailers have recently started introducing “pickup discounts” which offer shoppers a discount on online purchases that are shipped to physical stores for pickup. Baby product retailer Mothercare as well as Japanese retailer Muji are two brick-and-mortar stores that have jumped on the digital bandwagon. An integrated retail experience offered by such incentives remind customers of the joys of shopping again.
Shopping Districts with an Edge
Shopping malls are places where people go to do more than just shop. They go there to entertain themselves, to dine with family, to relax and pamper themselves. To remain relevant, they have to constantly evolve in their offerings and even in design.
A new shopping mall being developed in Paya Lebar, known as Paya Lebar Quarter appears to have gotten this right. This new retail mall features a fully integrated range of quality urban spaces to work, shop, play and relax in. To ensure the city’s sustainable future growth, it is located between Singapore’s central business district and Changi airport. A quality mix of retail, entertainment and food choices are planned not only ensure to interesting and more choice for shoppers but also foster social bonding and collaboration among others.
Overall, convenient shopping does not always have to be online. Retailers can deliver the accessibility of online shopping and the advantage of tailored advice and the social experience of brick-and-mortar in order to drive revenue.