Retail sector sees decent recovery in Q4 2021: Knight Frank

This optimistic performance is expected to continue until March 2022.

The retail sector saw its recovery go an upward trend in the fourth quarter of 2021, according to a study released by Knight Frank.

Performances of 10.8% and 3.9% year-on-year increases in October and November, respectively, were due to sales in the computer and telecommunications equipment sector.

New mobile launches in October further boosted sales, whilst sales events such as 11.11 and Black Friday in November helped maintain this upward trend. 

This trend is expected to continue into March 2022, due to the establishment of more travel lanes and a gradual increase in air travel throughout 2022. Aviation, in particular, is expected to return to pre-pandemic levels by 2023. 

An increased capacity of 50% for workers also gives a reason for retailers to remain hopeful, as consumers resume downtown shopping services.

Footfall within the CBD area and the Orchard Road shopping belt is also expected to increase, given its previous growth in the tail-end of 2021.