Singapore : GSS 2006 - Shopping Frenzy Unlimited!
Every year Singapore provides to local as well as international retailers, and to the shoppers flocking in, a virtual treat by holding eight weeks of shopping mania, in the form of the Great Singapore Sale A dynamic city, rich in contrast and colour, with a harmonious blend of culture, cuisine, arts and architecture. If there is one word that best captures this city, it is 'unique'. Singapore, brimming with unbridled energy, is a little dynamo in south-east Asia embodying the finest of both the East and the West. Think of something, and you'll have it in Singapore. The country is not only doing well in the tourism sector, but also has an industry rich in textiles and garments, agricultural processing, beverages, tobacco, cement, light manufacturing, jewellery, electric appliances, computers and parts, furniture, plastics, automobiles and automotive parts, and is the world's second-largest tungsten producer and third-largest tin producer. The Singapore retail market offers to retailers massive opportunities, both as a global base and as a domestic market, for experimenting and displaying their products. According to sources, the retail sales in January 2006 rose by 3.2 per cent (excluding motor vehicles, the index fell 6.2 per cent). When compared to January 2005, the overall retail sales rose by 4.8 per cent (but more significantly, excluding motor vehicles, the index rose by 9.7 per cent). The total retail sales value in January 2006 was estimated at $2,896 million compared to $2,806 million in the month of December, 2005. The Great Singapore Sale Singapore, every year, gives a virtual treat to local as well as international retailers by holding eight weeks of shopping madness, i.e., the Great Singapore Sale (GSS). With retail sales and visitor arrivals hitting new highs at GSS 2006, the city invites retailers and lifestyle players island-wide to participate in this annual event to ride on its fast-growing popularity among shoppers and to capitalise on the tremendous business opportunities it offers. GSS 2006, which started from May 26, will carry on till July 23 and will also coincide with the local and regional school holidays across Singapore and Asian countries. Alongside GSS, two more events are held: The Singapore Arts Festival and the Singapore Food Festival, which take place in June and July, and target both local and international tourists, and also offer a lifestyle experience. These activities also capture the attention of the local and international media. Promotions in GSS Singapore Tourism Board aggressively promotes GSS both locally and internationally, emphasising on the main shopping areas like Orchard Road, Marina Bay, the heartlands, late night shopping and the Great Singapore Shopping Challenge. Every year, in order to build on the success of GSS, all retailers and lifestyle players are invited to participate and offer an exciting range of retail and lifestyle offerings. Many of these offerings lead to increased domestic and visitor spending. A bonus for the shoppers are the discounts and special offers on products and services covering industries like fashion and accessories, furniture and furnishings, electrical and IT, health and beauty, food and beverage, leisure and entertainment. Attractive promotions Unique events and experiences like late night shopping, heartland shopping, product launches, local and international celebrity appearances, record-breaking feats, are also organised. One factor that acts as a good incentive to participants is the free participation offer. The Singapore Retail Association provides free publicity in the official guide and website which is well-acclaimed nationally and internationally. Shopping precincts Though organised retail in Singapore is more or less like the Indian retail scenario, it encompasses several formats, viz, hypermarkets, supermarkets, department stores, malls, franchise chains, grocery stores and scores of sundry dealerships hawking various products and services. Some of the prominent shopping destinations are: Central Shopping Belt: Singapore's Central Shopping Belt extends from Tanglin Road all the way down Orchard Road to Bras Basah Road and Marina Bay. Orchard Road: World-class shopping abounds through local and international department stores, designer boutiques, specialty shops and bargain counters. This is the place to shop till you drop during the Late Night Shopping time. Orchard Road, would be the most popular and most commonly heard name if anyone should mention shopping. This place is the central hub, also known as the 'city' of Singapore, and is well known among tourists. Orchard Road has major departmental stores, supermarkets, movie theatres, restaurants, famous hotels and other entertainment outlets. Some of the well-known hotels are: The Boulevard, Hilton International, Mandarin Hotel, Hyatt Regency, Goodwood Park, Orchard Parade, Le Meridien and Orchard Hotel. The main shopping complexes are Centrepoint, The Far East Plaza, Paragon, Ngee Ann City, Orchard Point, Far East Shopping Centre, Forum the Shopping Mall, Lucky Plaza, Orchard Emerald, Orchard Plaza, Orchard Towers, Orchard Plaza Wisma Atria, Shaw House, Shaw Centre, Tanglin Place and Tanglin Mall. You can get there by MRT (mass rapid transit) system as there are Orchard and Somerset MRT stations along the Orchard Road stretch. You can also find cheap buys like apparels and accessories at Orchard Road. Most of all you can wait till mid-July every year for the great Singapore sales where even major retailers slash their prices. Some of the common areas around Orchard Road are: Centrepoint: A one-stop shopping mall selling everyday items. Delfi Orchard: Includes clothing and accessories shops, a Waterford crystal shop, a Wedgewood china shop, an outlet of Royal Selangor Pewter, and many home-related shops and karaoke places. Far East Plaza: Over 600 retail outlets selling youths' clothing, videos, electronics, food to offering tattoo designing and hair and beauty treatment. It is the ideal teenagers' hang out. Forum Galleria: Housing anchor tenant's like Toys R Us, with other tenants like Watsons, Coffee Bean and Tea Leaves, in addition to boutiques. Palais Renaissance: A marble monument that houses labels, like Gianni Versace, DKNY, Dunhill, Prada and many more. Scotts Shopping Centre: A small shopping centre where one can find brands, like Liz Claiborne, Episode, Marks & Spenser, and The Hour Glass which sells exquisite brands of watches. In its basement is on offer a wide variety of food. Ngee Ann City: Built in 1994 , it offers various types of shops such as Harrods of London, Chanel, Guess? Levi's, The Hour Glass, Takashimaya, Takashimaya Fitness Club, a Cold Storage Supermarket and restaurants. Orchard Point: Houses anchor tenant, Spotlight, one of Australia's leading home-related shops, Coffee Bean and Tea Leaves, Glamour Shots and some other clothing shops. Orchard Hotel: Located behind Delfi Orchard and situated by the Opera Gallery which sells impressionist work. Marina Bay: Spread over a sprawling area where underground walkways and overhead bridges link all the malls. This brings miles of uninterrupted shopping and dining under one roof. Home also to Esplanade Theatres on the bay, Marina Bay presents a series of great promotions, fun activities and engaging arts events every month. City Fringe and Outskirts Great shopping in Singapore is not confined to just Orchard Road and its surroundings. Quality goods at prices that will not burn a hole in your pocket can be found in lots of places in the city fringes. During the GSS, activities abound in these areas too. Neighbourhood Centres If you are prepared to venture further a field, shopping can be combined with a little sightseeing off the beaten track. Some of the best bargains be can struck here, where most Singaporeans live, eat and shop - out in the heartlands of Singapore. The neighbourhood centres here offer a surprisingly comprehensive range of items from branded to local goods at prices that will delight the value-conscious and determined bargain hunter. Business hours vary from shop-to-shop but, as a general rule, most shops are open from 11 am to 9 pm. Many of the neighbourhood centres are easily accessible by buses and the MRT. Shopping at these bustling centres is a fascinating experience, providing insight into the local lifestyle and a chance to mingle with Singaporeans in their most comfortable state of mind. You will also reap another benefit - the opportunity to tuck into delicious local fare at the numerous food centres and informal coffee shops. Trends in Singapore Retail Sector The retail industry is the key service sector of Singapore's economy and acts as an important catalyst in making Singapore an enjoyable place for residents to live and work. Retailing has also played an integral part in turning Singapore into a vibrant global city and boosting its attractiveness as a premier tourism and business destination for visitors. The retail scene in Singapore is strongly influenced by both global and local trends. Here are some trends that can be seen in the retail industry. IT leads to business growth Retailers who harness the use of IT to enhance their planning, operations and customer relations management are able to stay productive and competitive in a tight retail market such as Singapore. As a result, food retailers, such as supermarkets/hypermarkets, are leading the way in adopting technology. An example is the standardised e-procurement systems that are being implemented by supermarket chains. Though e-commerce sales have not increased at the same rate as in countries like the US, the Internet has provided retailers with opportunities to create a new distribution channel and to communicate with consumers. This communication provides information such as store locations, notification of promotions and catalogues of products for on-line shopping which is especially popular among the young. Greying of the consumer market Population growth has slowed in Singapore, and this will lead to an ageing population. By 2030, 25 per cent of the population will be over 60 years old. This has an impact on the type of merchandise carried by retailers and where they locate their businesses. Retailers who used to target primarily the younger consumers would need to reassess their brand positioning, merchandise mix and service concepts to enhance their competitiveness in catering to the needs of this key group. Growth of suburban retail Increasingly busy executive lifestyles have created a demand for convenience shopping where goods and services are conveniently located near home. This has led to the growth of well-managed suburban shopping areas. Retailers are favouring retail locations in heartland malls and shopping centres within close proximity to residential areas. This has led to suburban rental rates being almost at par with the downtown rates. Singapore brands Singapore-designed goods, including fashion, jewellery and accessories, gifts, food products and furniture, differentiate Singapore from other Asian shopping destinations. Singapore is well-known for food and some of local favourites have been packaged as gifts for tourists to bring home. The Singapore Premium Food Gifts (SPFG) programme was launched in 2002 - more than 50 popular local dishes have been developed and packaged as food gifts.
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