SUBSCRIBERS

New norms may emerge in retail sector as sales per square foot of space fall

Pop-up, convenience stores, supermarts, flexible leases likely to be popular; fate of experiential concepts uncertain

Fiona Lam

Published Fri, Jun 25, 2021 · 05:50 AM

Singapore retail

Singapore

TRENDS that may emerge in the retail industry include refreshed tenant mixes, shorter and flexible leases, and pop-up stores, while experiential concepts take a back seat.

Sales per square foot (psf) of retail space in Singapore could also become more volatile, said Lee Nai Jia, deputy director of the Institute of Real Estate and Urban Studies (IREUS) at the National University of Singapore.

With psf retail turnover declining, there is uncertainty as to whether sales from physical shops can return to pre-pandemic levels.

"Smaller retailers are less l…