Singapore 3rd most popular destination in Asia Pacific for retailers

Screen Shot 2014-12-03 at 10.16.11 AM

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

Advertisements

About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
This entry was posted in Business, Economy, Global Sourcing and tagged , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s