ANALYSIS OF RETAIL TRADE IN SINGAPORE, 1973-1985

Abstract

Relatively little work has been done in downstream industries such as the Retail Trade. The urge to study about the sector in question here revolves around the notion that this is a field in which Singapore can further develop on her own unlike in manufacturing or financial services whereby foreign expertise and investment would be most preferred. Retailing is an easy trade to start. What it needs is basically a space and merchandises. It needs no large sum of capital nor high technical knowledge. Due to such nature, many have rushed into retail business during the economy boom and it is this that explains the oversupply state of the Retail Trade Sector of Singapore today. The recessionary period of I 985 and I 986 may have been a blessing in disguise. It weeds out several inefficient operations to bring out the · best of retailers. Retailing is no longer a simple business of buying and selling at a profit. Retailers who want to stay competitive, will have to keep themselves abreast new innovations and technique and changing consumer behaviour.