The problem with the Singapore Retail market is due to the following reasons.

• Singapore shoppers are now shopping online more often as prices in online purchases are much more cheaper.
• What kills the Retailers are their Rental cost and Staff Salaries.  
• Because of a huge drop in business revenues across the board, the retailers either earn enough revenue to just cover their overheads or in deficit month after month.
• Shoppers nowadays are more prudent in their spending.  They spend only what they really need.  To save money, they buy online.

During the last 12 months, more shops have been closing down. Some retailers either close a few of their shops that are not producing good revenue or close them all.

Recently the entire California Fitness in HK has shut down. California Fitness also shut down Singapore outlets last year.

This is just the beginning of an Asia effect. In my views, there will be more businesses ceasing operations in the next 6 months.

Next year 2017 will be another year of high challenges to come.