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Melissa Tan

Retailers' woes go beyond Reits

Retailers and mall owners need to reinvent themselves in order to attract shoppers.

Published on Jun 3, 2014 12:56 PM
 
-- ST ILLUSTRATION: MIEL

The Great Singapore Sale is on but shop owners here are unlikely to be in a festive mood.

Squeezed by high costs, more competitors and shrinking sales, retailers have been asking for more help to survive amid challenging market conditions.

In an industry where rents can make up nearly a third of business costs, many of the complaints centre on real estate investment trusts (Reits).

These publicly listed vehicles own a fifth of the retail space here, according to property consultants' estimates.

 
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