Mega sales help, but may not revive Singapore's retail sector

Singapore

RETAILERS are ending the year with a bang by pulling out all the stops for possibly the last mega sale of the year. The 12.12 sale on Dec 12 comes on the tail of three successful clearance rounds last month - but analysts say that such mega sales may do little to revive Singapore's retail scene.

The 12.12 mega sale reportedly has its origins as Chinese e-commerce player Taobao's response to Alibaba's hugely popular 11.11 - or Singles Day - sale, which is now the world's largest 24-hour shopping event.