SINGAPORE’S RETAIL LANDSCAPE IN A POST COVID-19 WORLD

Abstract

The retail industry in Singapore has been significantly impacted by the COVID-19 pandemic, which has forced retailers to adapt to changing consumer behavior and demands. One of the key ways that retailers have responded is through the integration of technology into their business operations. This dissertation paper examines the potential for technology integration in the retail industry in Singapore, with a focus on the post-pandemic landscape. Through a combination of secondary sources and primary research, this study provides insight into the changing needs and preferences of consumers in Singapore, as well as the potential benefits and challenges associated with technology integration in the retail industry. The findings reveal that integrating technology has become increasingly important for retailers in Singapore, as they seek to provide a safe, convenient, and personalized shopping experience for customers. This has led to the adoption of platforms for online shopping, digital payment systems, and virtual try-on technology. However, the study also highlights the importance of striking a balance between technology integration and maintaining personal interactions with customers, particularly in the luxury retail industry. Furthermore, the study identifies sustainability and eco-friendliness as increasingly important factors in customers' purchasing decisions. Retailers should therefore prioritize sustainability initiatives and make environmentally responsible choices more accessible and affordable for consumers. The study provides several recommendations for retailers and policymakers in Singapore. Retailers should prioritize technology integration, sustainability, and eco-friendliness to provide a more efficient, convenient, and personalized shopping experience while reducing costs and environmental impact. Retailers should also support local and emerging designers in Singapore and provide their customers with a wide range of original and well-designed products. Finally, retailers should improve their online shopping experiences, particularly for customers who may not be as tech-savvy. In conclusion, this dissertation paper provides valuable insights into the potential for technology integration in the retail industry in Singapore, with a focus on the post-pandemic landscape. By prioritizing technology integration, sustainability, and customer experience, retailers in Singapore can adapt to the changing needs and preferences of consumers and ensure a bright future for the industry.