Playing catch-up is not an option for retailers

Department and multi-label concept stores have to set themselves apart by offering shoppers a unique destination

Perhaps the most notable shopping event I have seen in town this year was the weekend queue at Metro's Centrepoint flagship. The line stretched outside of the mall and down the steps of its main entrance, snaking around the side. Shoppers were in line for the department store's moving-out sale - discounts of up to 90 per cent - on the occasion of its announced closing.

Retail - for department stores especially - is not in a good place at the moment. Just last month, Barneys New York announced it was filing for bankruptcy.

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A version of this article appeared in the print edition of The Straits Times on September 06, 2019, with the headline 'Playing catch-up is not an option for retailers'. Print Edition | Subscribe