Global Retail City Profiles Singapore
Albeit small in size, Singapore maintains a high standing among other retail destinations in Asia, as it strives to harness the latest trends to keep a competitive edge over neighbours. Strengthening their foothold in e-commerce, retailers are embracing the latest omni- channel retailing strategies to boost shoppers’ experiences. Malls are also incorporating more niche entertainment categories and have adopted tenant mixes that blend lifestyle concepts that embody the work-live-play paradigm. In addition to the online-to-offline migration of home-grown retailers, themed F&B concepts have also been growing a presence in Singapore. Some of the latest retailers in the market include Devialet - an innovative luxury audio brand from France, Gentle Monster - a cult Korean eyewear brand, Lumine - a multi-concept store from Japan and Don Don Donki - the famed Japanese discount store.
High street Orchard Road is home to Singapore’s largest concentration of fashion retailers that cater to the market at large. Inside the malls that stretch along the 2.2-kilometre boulevard, Orchard Road offers a wide variety of mid-market to premium fashion labels and luxury brands. The road is closed off during major events such as Christmas or the annual Chingay parade, and occasionally closes for ‘Pedestrian Night on Orchard’, transforming the coveted street into a flurry of activities and outdoor performances.
Shopping centers Most of Singapore’s premium shopping centers are situated within the Orchard-Somerset shopping belt. This includes ION Orchard, Paragon, Ngee Ann City, and Wisma Atria. These malls are home to several street-facing luxury shops while mid-market brands congregate in the basement and upper levels. ION Orchard features eight levels of shopping with four floors underground and benefits from a direct connection to the Orchard Mass Rapid Transit Station. Other prominent shopping centers outside of Orchard Road include The Shoppes at Marina Bay Sands, the luxury retail mall which is part of Singapore’s iconic Marina Bay Sands development, and VivoCity, the largest mall in Singapore with more than 1 million sq ft of lettable retail space. Apart from its direct connection to two train lines, VivoCity is also the gateway to Sentosa Island, Singapore’s premier island resort getaway, allowing it to enjoy high footfall from both local and foreign visitors.
Shopping center VivoCity
The Shoppes at Marina Bay Sands Ngee Ann City ION Orchard
Paragon Shopping Centre Wisma Atria
Opening year Size (sqft) Location 2006
2010 1993 2009 1998 1986
1,047,000 751,000 710,000 624,000 489,000 230,000
Note: *Figures are estimates based on available market information. Mall size is based on GLA. Source: JLL 2018
Population 5.8m
Prime rent (sqft per year)
US $710 Prime rental information for Orchard Road
Key indicators Population (‘000s No.)
GDP per Capita (US$, Real, PPP) GDP Forecast 2018-2022 (% pa)
Retail Sales Forecast 2018-2022 (% pa) Global CBRA Rank (Out of 140 cities)
Rental growth outlook
5,811
85,120 2.7 1.3 7th
Source: JLL, Oxford Economics (May 2018) Global CBRA Rank = Global Cross Border Retailer Attractiveness Rank
Key retail entrants
Apple Devialet
Lumine Don Don Donki
Key tenants
Edge of City City Center City Center City Center City Center City Center
A/X Armani Exchange, Coach, Zara, H&M, Desigual Louis Vuitton, Cartier, Tiffany & Co., Chanel, Gucci, Prada Louis Vuitton, Chanel, Christian Dior, Montblanc, Roger Vivier Cartier, Dior, Dolce & Gabbana, Louis Vuitton, Tiffany & Co. Gucci, Prada, Salvatore Ferragamo, TOD’S, Miu Miu, Loewe Coach, Tory Burch, deLaCour, Frank Muller, TAG Heuer
Copyright (c) JLL IP, INC 2018
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