Big boys muscle in on empty space as retail rents slip amid Covid

Annabeth Leow

Published Mon, Jul 26, 2021 · 05:50 AM

Retail

Singapore

SMALLER retailers and eateries could increasingly be replaced in malls by big brands with the wherewithal to capitalise on rental declines.

Even as Covid-19 restrictions chip away at the bricks-and-mortar consumer sector, the retail scene has accelerated an ongoing transformation, observers told The Business Times.

New openings are likely to include brands that began online and are muscling into offline commerce, industry watchers said. Click-and-collect venues, as well as flagship concept stores, could also grow as the industry goes omni-channel.

Wong Xian Yang, head of research at real estate services firm Cushman & Wakefield, now expects weake…