BUGIS JUNCTION : FORMULATION OF ITS RETAIL CONCEPTS

Abstract

In today's highly competitive retailing environment, the importance of establishing the right retail concept of a shopping development cannot be overemphasized. Looking from another perspective, a retail concept which is able to carve a niche for the shopping development even In the light of an imminent over supply of retail space is the solution to gaining a foothold In the retail market. As part of the pre-development process, a thorough and often involving gruelling long hours of market research must be undertaken prior to the conceptualization of a suitable retail concept for a new development. In this instance, the study “Bugis Junction – Formulation of its Retail Concepts” is undertaken. A hypothesis is constructed to test the viability of the proposed retail concepts of Bugis Junction from the consumer’s point to view. A market research analysis, which comprises analyses of the trade area and a consumer survey, is carried out to test the hypothesis. The findings and implications of the market analysis have affirmed the feasibility of the proposed retailing concepts from the consumer’s standpoint.