Apparel and Footwear Specialist Retailers in Singapore

PROSPECTS

Ongoing decline for apparel and footwear retailers

Apparel and footwear specialist retailers continued its downward trend from previous years. This is largely due to contracting tourism receipts in 2019, which had been a key pillar supporting the retail sector, despite growth in international arrivals.

E-commerce is the biggest threat to physical retail stores

While Singapore’s retail sales in apparel and footwear have fallen, online shopping has increased. The ongoing expansion of e-commerce poses a significant challenge to store-based retailing.

Growth in store count thanks to Jewel

Changi Airport’s new Jewel, which was opened in 2019, houses more than 280 retail stores with 53,600 sq m retail space. Changi Airport Group estimates about 40-50 million visitors to Jewel each year with an estimate of 60% to be Singapore residents.

COMPETITIVE LANDSCAPE

Uniqlo maintains lead in Singapore

Uniqlo continues to sustain double-digit growth despite the decline across apparel and footwear specialist retailers. Uniqlo remains highly relevant to its customers through multiple UT graphic t-shirt collections.

Mid-tier brands impacted by shift in consumer habits

As apparel and footwear specialist retailers experiences a downward trend, premium and economy brands are performing better than mid-tier brands. Local consumers are increasingly polarised as they are in search of affordable fast fashion for a more frequent update of wardrobe to keep up with trends or premium lines that are more exclusive.

Growing interest in sustainable wardrobe

More brands in Singapore are putting sustainability at the forefront of their manufacturing and sourcing practices as consumers are becoming more aware of the products they purchase. Independent brands that are based on sustainability such as using alternative fibres, manufacturing from leftover fabrics and using waste products to produce clothes are becoming more readily available and accessible in Singapore.

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