Essay On Shopping Mall Environment

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1. Local Shopping Mall Environment According to SRA, Singapore Retail Association, Singapore retail environment are the population with 5.18 million residents, total of 20,000 retail establishments, in year 2010, estimate of 11.6 million tourists arrivals and Singapore Gross Domestic Product reached SGD 303 billion in year 2010. Not only that, according to SRA as well, there is a report from World Bank’s “ Ease of Doing Business” in year 2011 stated Singapore ranked No 1 out of 183 countries. World Competitiveness Yearbook had ranked Singapore in third place for the most competitive country by Swiss Business School IMD in 2011. USB Prices and Earning Report 2011 had stated and ranked Singapore in second place for the most expensive city in Asia and ranked No 10 for the most expensive city globally. Moreover, Singapore is well-known in high level of competition in retail sector and high cost of retail operations for rentals and labour. I. Local shopping mall environment In the year 2013, Singapore’s economy is growing positively but in just single-digit growth rate. Not only have that, Singapore dollar remained strong in the same year as compared to neighbouring countries’ currency. These two reasons have made an impact to the local market as the retail growth slowdown in the year 2013. According…show more content…
We cannot deny the fact where online shopping provides consumers with ultimate levels of convenience. Shopping mall nowadays should move towards in a different direction, away from the commoditized shopping experiences. They should widen customers’ value proposition by providing innovation malls with value added elements such as concerts, spas, bathhouse, farmers’ markets, arts centers, concerts and fitness

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