Boring malls failed to charm jaded locals at Great Singapore Sale 2015: report

GSS is only appealing to tourists.

Singapore’s glitzy shopping centres failed to attract mall-weary locals in this year’s Great Singapore Sale, according to a report by RHB Research.

Although malls prepared a salvo of tempting offers for GSS, spending by locals still dipped on a year-on-year basis because shoppers were bored with repetitive retailers across main shopping districts and suburban malls.

In addition, locals are also able to get better deals online and traditional discounts during National Day, just one month after GSS.

“Many industry players, such as the Jay Gee Melwani Group, OG departmental stores, Isetan Singapore and more, cited waning interests in the GSS vs a decade ago. We allude to the dwindling hype for the sales from increased competition from online platforms and the lack of variety provided by brick-and-mortar stores,” said RHB.

Nonetheless, GSS continued to appeal to strongly to tourists especially for visitors from Australia, Malaysia and China.

“We think the lack of differentiation amongst the malls here would lead to increased cannibalisation within the retail spending space. With the fast-fashion brands sprouting up in neighbouring cities like Kuala Lumpur and Bangkok, coupled with the strengthening SGD, tourism spending may be impacted post the GSS,” the report warned.