Singapore 3rd most popular destination in Asia Pacific for retailers

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Few barriers to entry and strong supply chains in Singapore are factors that attract international retailers, according to a report by JLL.

The Republic has been ranked as the third most popular destination in the Asia Pacific region for international retailers, behind Hong Kong and Shanghai, according to a new report by JLL on Wednesday (Dec 3).

The report noted that Singapore is often used as a hub for expansion into other Southeast Asian markets, and international retailers see the city-state as an important market for building brand awareness. Few barriers to entry and strong supply chains in Singapore are other factors that attract international retailers, it added.

Still, there are several hurdles for brands looking to enter the market. With low vacancy rates in prime locations, it is difficult for brands to secure an appropriate retail location, the report said, adding that this supply and demand disparity has led to rental price growth in prime locations over the past few years.

At the same time, landlords now have to give more thought to their tenant mix in order to attract customers, given the influx of new malls, decline in reported tourist arrivals and the rising impact of e-commerce, it said.

Said Mr Tom Hamilton, Director of Retail, JLL Singapore: “In 2015, we envisage a continued growth of international brands entering the Singapore market but with very specific emphasis placed on sourcing stores in the strongest strategic locations.”

A continued slow-down is expected in the take up of weaker locations, with many existing retailers reining in expansion strategies along with the potential consolidation of store numbers, he added.

 

Source : Channel News Asia | December 3, 2014

Thomas D’Innocenzi

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About thomasdinnocenzi

Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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