Orchard Road is one of Singapore’s most iconic shopping streets. Its 8 million square feet of retail space is equivalent to 103 football fields. However, it has been facing a serious challenge of competition from online retail. In fact, Orchard is suffering from “cannibalism” from online shopping – an unprecedented level of competition between brick-and-mortar stores. Luckily, there are a number of ways for consumers to get the same experience, without having to pay the high rents that many retail spaces have to pay.
Last year, Singapore’s economy grew by 5%, but the Orchard Road shopping district is not thriving …