Singapore retailers' reliance on local demand may not be sustainable: Survey

32 per cent of retailers surveyed said they experienced a 50 per cent year-on-year increase in sales from Sept to Oct 2020. ST PHOTO: GIN TAY
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SINGAPORE (THE BUSINESS TIMES) - Despite the pandemic, about one in two retailers in Singapore still experienced higher sales from September to October this year than last year, but banking on local demand may not be sustainable.

That is according to an American Express survey released on Monday (Nov 23), of 300 small and medium enterprises (SMEs) in Singapore with annual revenues of $100 million or less.

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