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SG retail getting affected....


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Supercharged

It cuts both ways........ one side, retailers are suffering, another way, SG ppl are damm happy [laugh]

 

 

https://sg.finance.yahoo.com/news/glitzy-street-no-more-vanishing-024300021.html

 

Desperate owners are starting to get panicky.

 

The country’s posh shopping center is bearing the brunt of the sharp decline in Chinese tourist arrivals. According to Maybank Kim Eng, short-term headwinds are in the forecast for Orchard Road’s landlords.

 

The report stated that Orchard Road shops are dealing with a new Chinese law that bans “forced shopping” for tourists.

 

Hoteliers are also now focusing on corporate and transient segments as tour groups become more scarce.

 

“Our conversations with Orchard Road landlords suggest that the current headwinds may be short term in nature. Chinese visitors have been declining since last October, partly because of a new mainland law

 

that bans “forced shopping”, which prompted sharp rises in prices for outbound tours in China. In addition, many hotels along Orchard Road have progressively moved away from the wholesale customer segment (tour groups) to focus on the higher-yielding corporate and transient segments,” the report stated.

 

 

Here’s more from Maybank Kim Eng:

 

The Chinese are no longer coming in droves. Following the political upheaval in Thailand and the mysterious disappearance of Malaysian Airlines flight MH370, there have been concerns that this may have a negative impact on Chinese visitor arrivals.

 

 

Mainland Chinese typically holiday in Singapore, as part of their tours to Malaysia, Thailand and Indonesia. Based on 2013 data, mainland Chinese were the second-largest international visitor group to Singapore (2.3m) after the Indonesians (3.1m).

 

 

Anecdotal evidence points to Chinese tourists cancelling their travel plans to Southeast Asia in recent months. The initial signs of a slowdown are already evident with Chinese visitor arrivals down 31% and 14% YoY in 4Q13 and 1Q14, respectively.

 

 

More recently, the April retail sales of watches and jewellery, which are highly dependent on tourist purchases, registered a sharp YoY decline of 16.3%.

 

 

The law was in response to recent years of public outcry in China over extremely cheap tours tied to “forced shopping”. The law, which took effect at the start of the seven-day National Day “Golden Week” holiday on 1 Oct 2013.

 

 

The upshot was substantial increases in tourist agency costs, especially salaries for tour guides, who previously received commissions from designated shops. As a result, sales of such tours have fallen, even at what is a peak period for holidays.

 

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(edited)

Good for Singaporean cos without those PRC, shops have to lower their items prices ... [sly]

 

Last time with plenty of PRC, those shops are selling more expensive and Singaporean want to buy, they the no hew you cos the got the steady flow of PRC buying from them. :angry:

 

Now they LLST lor .. :huh:


 

Edited by Picnic06
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(edited)

really ar? i just walk into Hour Glass and ask for a rolex gmt and panerai

no discount ... not even 1% ... no buy please go don't waste my time ...

orchard road sibei atas la ... i need to buy from grey dealer in a dark alley liao ... lol

 

Edited by Wt_know
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you try to dress like a tourist and speak like a tourist, then see what happened....

 

 

really ar? i just walk into Hour Glass and ask for a rolex gmt

no discount ... not even 1% ... no buy please go don't waste my time

 

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(edited)

ok ... this weekend i will ask my ah tiong staff walk in HG and ask for rolie ... talk like Ip Man ... i want 10

 

actually, my relative from hk also told me that retailer "prefer" to sell to PRC than local ... be it cosmetics, jewellery&watches, expensive chinese medicine & food like abalone/sharkfin/bird nest/etc

 

PRC customer is tough and demanding but they got the moolah ... jin ho jiak

 

you try to dress like a tourist and speak like a tourist, then see what happened....

 

Edited by Wt_know
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Best is to attract the locals. These will form the base of their income. Anything extra like tourists is bonus.

 

Hmm, they need to do more, like lowering the prices to attract us....

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bring wads of notes. Ah Tiong use real $$$, not credit cards.

 

ok ... this weekend i will ask my ah tiong staff walk in HG and ask for rolie ... talk like Ip Man ... i want 10

 

 

 

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Twincharged

ok ... this weekend i will ask my ah tiong staff walk in HG and ask for rolie ... talk like Ip Man ... i want 10

 

actually, my relative from hk also told me that retailer "prefer" to sell to PRC than local ... be it cosmetics, jewellery&watches, expensive chinese medicine & food like abalone/sharkfin/bird nest/etc

 

PRC customer is tough and demanding but they got the moolah ... jin ho jiak

 

 

 

yeah, if wanna be served in HK boutiques, better talk with PRC slang.

 

otherwise will be chased out by security

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Tourism accounts for roughly 5% of our GDP, and PRC contributes 10-20% easily.

 

 

 

No wonder Custom want to tax GST when Singaporean return from oversea with more than $600/- purchase .... [grin]

 

Cover lost of PRC tourist GDP contribution... [lipsrsealed]

 

 

[laugh][laugh][laugh]

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The retail scene is one of the most boring.

 

Everywhere you go, every malls, it's about the same....

 

 

Won't help except if it is enough to encourage more people to spend their money here. Our retail industry is losing competitiveness. Recently, saw this interview of some retail association chairman who said that they cannot compete on prices, they will try to compete on services. But our services since when improve ?

 

 

 

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(edited)

actually hor it's tough ... sporean travel overseas 2-3 times a year

every trip got shopping spree

shop till drop liao ... where got extra $$ to shop in local?

window shopping yes ... serious buying ... no lor

that's why orchard road is trying very hard to re-invent itself to attract more tourist dollar ... without tourist dollar ... jialat liao

 

we need even more and more tourist coming to support our JEWEL

 

mar14_01_leisure.jpg

 

Best is to attract the locals. These will form the base of their income. Anything extra like tourists is bonus.

 

Hmm, they need to do more, like lowering the prices to attract us....

 

Edited by Wt_know
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you try to dress like a tourist and speak like a tourist, then see what happened....

 

 

 

是吗, 我不懂英文。 在国内之讲普同话:p

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really ar? i just walk into Hour Glass and ask for a rolex gmt and panerai

no discount ... not even 1% ... no buy please go don't waste my time ...

 

did you use the secret code "FULL CASH"? :D

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Turbocharged
(edited)

really ar? i just walk into Hour Glass and ask for a rolex gmt and panerai

no discount ... not even 1% ... no buy please go don't waste my time ...

orchard road sibei atas la ... i need to buy from grey dealer in a dark alley liao ... lol

 

Bro, I juz got 25% off for zenith and 18% for rolex last month... Use maybank card get additional $600 rebate.. 😄 Edited by TJX
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frankly I can't imagine myself coming to Sgp to shop.

Our prices are so high it makes better sense for a tourist to go elsewhere .

Our Hotel rates are more expensive than Hkg.

What happened ?

1 word : Landlord.

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(edited)

no ... i beg for 60 months 0% interest installment plan ...

 

 

did you use the secret code "FULL CASH"? :D

 

really ... 18% discount from "standard" retail price for any credit card?

hard to believe got rolex discount for sport model like sub/gmt/daytona

anyway, can pm me the hour glass sales person (which outlet?) ... thanks!

 

Bro, I juz got 25% off for zenith and 18% for rolex last month... Use maybank card get additional $600 rebate.. 😄

 

Edited by Wt_know
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