Latest news with #TampinesMall
Business Times
5 days ago
- Business
- Business Times
Isetan, Metro, OG, Marks & Spencer have all shrunk: Do department stores have a silver lining?
[SINGAPORE] Once coveted as anchor tenants by malls, department stores are threatened by the rise of e-commerce and shifting consumer preferences. The impending closure of Isetan's Tampines Mall outlet, announced in May, is the latest in a series of shutterings since Covid-19. To stay competitive, department stores should consider smaller stores with tighter product curation, as well as in-store experiences, observers told The Business Times. 'The traditional model of being large, all-in-one stores simply doesn't match how people shop anymore,' said Dr Samer Elhajjar, senior lecturer at NUS Business School's department of marketing. 'Consumers now look for speed, curation and meaningful experiences.' Japanese chain Isetan said on May 6 that it would close its Tampines Mall outlet when its lease ends in November, after nearly 30 years. This will leave the chain with its outlets at Shaw House and Nex, down from a peak of six in 2013. A spokesperson said the decision was made 'in light of evolving market conditions', as part of a broader strategic move to realign operations for 'long-term sustainability and growth'. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up In 2019, Metro closed its flagship Centrepoint store, leaving it with its outlets at Paragon and Causeway Point. In 2022, OG shut its Orchard Point store after 18 years; it now has outlets only at People's Park and Albert Street. BHG Singapore has closed five stores here since 2022, most recently its Junction 8 branch in March. It retains its Bugis flagship and its Centrepoint outlet, which opened in February. British retailer Marks & Spencer closed its Parkway Parade outlet in February, leaving it with seven locations, according to its website. Other department stores have exited entirely. Robinsons shuttered its last store at Raffles City in January 2021 – though it later returned as an online retailer – and John Little closed its last store in Plaza Singapura in late 2016. Isetan's spokesperson said the retailer remains 'fully committed' to serving customers through existing stores and 'evolving' retail platforms, and will continue its 'journey with the community in new and meaningful ways', but declined to give details. OG, Metro and BHG declined to comment on their Singapore plans, while Takashimaya and Marks & Spencer did not respond to queries from BT. Weaker offline One reason for this decline is the rise of online shopping, especially during the pandemic, said observers. Many brands carried by department stores are available online and for less, said Dr Elhajjar. Malls are instead focusing on offerings 'that e-commerce cannot replicate', such as food streets, indoor playgrounds, boutique gyms and dental clinics, he said. In physical retail, specialised formats have supplanted department stores' one-stop concept, said Alan Cheong, Savills Singapore's executive director for research and consultancy. He cited low-cost shops such as Daiso and Japanmart, specialty retailers such as cosmetics chain Sephora, and high-end luxury maisons. British retailer Marks & Spencer closed its Parkway Parade outlet in February. PHOTO: BT FILE Today's consumers prioritise immersive brand experiences over product availability, said Wong Xian Yang, Cushman & Wakefield's head of research for Singapore and South-east Asia. Brands have opened specialty stores 'where they can control distribution and craft memorable experiences' – and department stores have thus lost significance as a way to reach consumers. The homogeneity of department stores – with the same layout, brands and regular sales – also means 'weak brand excitement' for younger shoppers, added Dr Elhajjar. Another factor is that large retail footprints mean high fixed costs. Traditional department stores range from 30,000 square feet to over 150,000 sq ft, Dr Elhajjar noted. For instance, Robinsons' now-defunct flagship at The Heeren occupied 186,000 sq ft across six floors. 'If foot traffic drops, or sales per square foot aren't high, the cost of running these massive spaces just doesn't make sense anymore,' he said. Global decline The decline of Singapore's department stores is part of a global phenomenon. In February 2024, US juggernaut Macy's said it would close 150 underperforming stores – almost a third of its total – by 2026. After 242 years in business, British retail institution Debenhams closed its remaining stores in the UK and Ireland in 2021, and later relaunched itself as an online retailer. Another long-established British chain, Beales, fell into administration in 2020 and closed 22 of 23 stores. Its final store is set to close on Saturday (May 31). In February 2024, US juggernaut Macy's said it would close 150 underperforming stores – almost a third of its total – by 2026. PHOTO: REUTERS Sulian Tan-Wijaya, executive director for retail and lifestyle at Savills Singapore, said: 'The department stores that closed were either not keeping up with new and emerging consumer and retail trends, or were part of consolidation plans by chains which had over-expanded in prior years.' In contrast, some stores have survived by offering younger shoppers physical experiences 'they can't get online', she noted. Upscale UK retailers Selfridges and Harrods have 'evolved successfully' with their brand mix, retail formats and shopping experiences, down to the choice of food and beverage tenants and music, she said. She also cited Japanese chain Mitsukoshi, which has a rooftop garden at its Ginza outlet in Tokyo. Wong suggested that to stay relevant, department stores can consider 'smaller, more agile formats' in areas with high footfall, cutting costs while offering a more targeted product range. Department stores need a 'significant strategy overhaul', said Dr Elhajjar. 'Most importantly, they have to stop thinking in square footage and start thinking in relevance per square metre.' He listed several approaches. Stores can rethink their product mix, 'moving away from generic, mass-market goods and bringing in more differentiated, high-margin or exclusive items'. They can reinvent the in-store experience or become lifestyle concept stores. They can also create a community by hosting workshops or personalised events, and collaborate with brands or influencers to offer exclusive collections. 'Department stores that are willing to evolve, experiment and align themselves with the changing habits of modern shoppers still have a chance – but only if they move boldly, not incrementally.' Rejuvenation efforts An artist's impression of the revamped basement at Tangs' Tang Plaza branch. More than 70% of the space will go to F&B, up from 15% before. ILLUSTRATION: TANGS Post-Covid, home-grown department store Tangs has reorganised its retail space and refreshed the offerings at its Tang Plaza and VivoCity branches, said a spokesperson. This is to better cater to its shopper base, with 80 per cent being female professionals, stay-at-home mothers and their families. For instance, the kids' section has widened its range of apparel, baby care and toys, in response to rising demand from young families. Other changes reflect a shift towards experiences. The VivoCity store has partnered toy brands such as Jellycat and Miffy, as well as cosmetics brands Bobbi Brown and Estee Lauder, to create 'shop-in-shop' experiential zones. The revamped Tang Plaza basement will reopen in August with more than 70 per cent of space going to F&B, up from 15 per cent before. Tang Plaza's beauty and wellness offerings have also been expanded, with the addition of services such as a new dental clinic and aesthetic clinic. A Tangs spokesperson said: 'The pandemic has irreversibly shifted the retail landscape, requiring us to rethink how we do business.' While retail remains a 'challenging space', the department store is 'committed to evolving, rather than retreating', the spokesperson added.
Business Times
5 days ago
- Business
- Business Times
Death of the department store? Players can stay relevant with curated products, experiences, say retail observers
[SINGAPORE] Once coveted as anchor tenants by malls, department stores are threatened by the rise of e-commerce and shifting consumer preferences. The impending closure of Isetan's Tampines Mall outlet, announced in May, is the latest in a series of shutterings since Covid-19. To stay competitive, department stores should consider smaller stores with tighter product curation, as well as in-store experiences, observers told The Business Times. 'The traditional model of being large, all-in-one stores simply doesn't match how people shop anymore,' said Dr Samer Elhajjar, senior lecturer at NUS Business School's department of marketing. 'Consumers now look for speed, curation and meaningful experiences.' Japanese chain Isetan said on May 6 that it would close its Tampines Mall outlet when its lease ends in November, after nearly 30 years. This will leave the chain with its outlets at Shaw House and Nex, down from a peak of six in 2013. A spokesperson said the decision was made 'in light of evolving market conditions', as part of a broader strategic move to realign operations for 'long-term sustainability and growth'. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up In 2019, Metro closed its flagship Centrepoint store, leaving it with its outlets at Paragon and Causeway Point. In 2022, OG shut its Orchard Point store after 18 years; it now has outlets only at People's Park and Albert Street. BHG Singapore has closed five stores here since 2022, most recently its Junction 8 branch in March. It retains its Bugis flagship and its Centrepoint outlet, which opened in February. British retailer Marks & Spencer closed its Parkway Parade outlet in February, leaving it with seven locations, according to its website. Other department stores have exited entirely. Robinsons shuttered its last store at Raffles City in January 2021 – though it later returned as an online retailer – and John Little closed its last store in Plaza Singapura in late 2016. Isetan's spokesperson said the retailer remains 'fully committed' to serving customers through existing stores and 'evolving' retail platforms, and will continue its 'journey with the community in new and meaningful ways', but declined to give details. OG, Metro and BHG declined to comment on their Singapore plans, while Takashimaya and Marks & Spencer did not respond to queries from BT. Weaker offline One reason for this decline is the rise of online shopping, especially during the pandemic, said observers. Many brands carried by department stores are available online and for less, said Dr Elhajjar. Malls are instead focusing on offerings 'that e-commerce cannot replicate', such as food streets, indoor playgrounds, boutique gyms and dental clinics, he said. In physical retail, specialised formats have supplanted department stores' one-stop concept, said Alan Cheong, Savills Singapore's executive director for research and consultancy. He cited low-cost shops such as Daiso and Japanmart, specialty retailers such as cosmetics chain Sephora, and high-end luxury maisons. British retailer Marks & Spencer closed its Parkway Parade outlet in February. PHOTO: BT FILE Today's consumers prioritise immersive brand experiences over product availability, said Wong Xian Yang, Cushman & Wakefield's head of research for Singapore and South-east Asia. Brands have opened specialty stores 'where they can control distribution and craft memorable experiences' – and department stores have thus lost significance as a way to reach consumers. The homogeneity of department stores – with the same layout, brands and regular sales – also means 'weak brand excitement' for younger shoppers, added Dr Elhajjar. Another factor is that large retail footprints mean high fixed costs. Traditional department stores range from 30,000 square feet to over 150,000 sq ft, Dr Elhajjar noted. For instance, Robinsons' now-defunct flagship at The Heeren occupied 186,000 sq ft across six floors. 'If foot traffic drops, or sales per square foot aren't high, the cost of running these massive spaces just doesn't make sense anymore,' he said. Global decline The decline of Singapore's department stores is part of a global phenomenon. In February 2024, US juggernaut Macy's said it would close 150 underperforming stores – almost a third of its total – by 2026. After 242 years in business, British retail institution Debenhams closed its remaining stores in the UK and Ireland in 2021, and later relaunched itself as an online retailer. Another long-established British chain, Beales, fell into administration in 2020 and closed 22 of 23 stores. Its final store is set to close on Saturday (May 31). In February 2024, US juggernaut Macy's said it would close 150 underperforming stores – almost a third of its total – by 2026. PHOTO: REUTERS Sulian Tan-Wijaya, executive director for retail and lifestyle at Savills Singapore, said: 'The department stores that closed were either not keeping up with new and emerging consumer and retail trends, or were part of consolidation plans by chains which had over-expanded in prior years.' In contrast, some stores have survived by offering younger shoppers physical experiences 'they can't get online', she noted. Upscale UK retailers Selfridges and Harrods have 'evolved successfully' with their brand mix, retail formats and shopping experiences, down to the choice of food and beverage tenants and music, she said. She also cited Japanese chain Mitsukoshi, which has a rooftop garden at its Ginza outlet in Tokyo. Wong suggested that to stay relevant, department stores can consider 'smaller, more agile formats' in areas with high footfall, cutting costs while offering a more targeted product range. Department stores need a 'significant strategy overhaul', said Dr Elhajjar. 'Most importantly, they have to stop thinking in square footage and start thinking in relevance per square metre.' He listed several approaches. Stores can rethink their product mix, 'moving away from generic, mass-market goods and bringing in more differentiated, high-margin or exclusive items'. They can reinvent the in-store experience or become lifestyle concept stores. They can also create a community by hosting workshops or personalised events, and collaborate with brands or influencers to offer exclusive collections. 'Department stores that are willing to evolve, experiment and align themselves with the changing habits of modern shoppers still have a chance – but only if they move boldly, not incrementally.' Rejuvenation efforts An artist's impression of the revamped basement at Tangs' Tang Plaza branch. More than 70% of the space will go to F&B, up from 15% before. ILLUSTRATION: TANGS Post-Covid, home-grown department store Tangs has reorganised its retail space and refreshed the offerings at its Tang Plaza and VivoCity branches, said a spokesperson. This is to better cater to its shopper base, with 80 per cent being female professionals, stay-at-home mothers and their families. For instance, the kids' section has widened its range of apparel, baby care and toys, in response to rising demand from young families. Other changes reflect a shift towards experiences. The VivoCity store has partnered toy brands such as Jellycat and Miffy, as well as cosmetics brands Bobbi Brown and Estee Lauder, to create 'shop-in-shop' experiential zones. The revamped Tang Plaza basement will reopen in August with more than 70 per cent of space going to F&B, up from 15 per cent before. Tang Plaza's beauty and wellness offerings have also been expanded, with the addition of services such as a new dental clinic and aesthetic clinic. A Tangs spokesperson said: 'The pandemic has irreversibly shifted the retail landscape, requiring us to rethink how we do business.' While retail remains a 'challenging space', the department store is 'committed to evolving, rather than retreating', the spokesperson added.
CNA
18-05-2025
- Business
- CNA
Nostalgia in Singapore: Why do we always long for the past and what does that say about us?
When Isetan announced it would close its Tampines Mall outlet in November 2025 after almost three decades in operation, it wasn't just a regular business winding up. It signalled to me the death of the Singaporean shopping mall template I have a love-hate relationship with, where a department store is the anchor tenant. This wasn't the only change in the past few years to the Singapore I grew up with. Each loss was made more pronounced against the post-pandemic landscape, where practically nothing was familiar anymore. Several longtime or heritage businesses shuttered too, with a string of notable closures in expatriate enclave Holland Village, like the 80-year institution Thambi magazine store, party shop Khiam Teck and furniture business Lim's Holland Village. Then there was the slow death of cinemagoing, once a classic Singaporean pastime. Filmgarde Cineplexes exited the market in March after 18 years, while Cathay's operator mm2 Asia in the same month continued its slew of closures, shutting down its sixth theatre in three years. No matter the change, public reactions, perhaps predictably, centred around nostalgia. But this prevailing sentiment isn't mere romanticism of the past. I've found it masks deeper, unspoken anxieties about our shifting identity. Do we miss the physical entity that's vanishing, or do we really miss the time and people we used to be that it represents? Plus, what does it even mean to be Singaporean? OUR NATIONAL IDENTITY Some might say that it's our penchant for 'chope-ing' (reserving) seats at hawker centres with tissue packets. Others might highlight our world class airport and Singlish – two hallmarks of Singaporean efficiency. There's also our multiculturalism, 'kiasu' mentality (being afraid to lose), cookie-cutter shopping malls, grouchy taxi uncles, standardised Housing and Development Board (HDB) flats, and a peculiar belief that our food is better than Malaysia's. The way I see it, however, the crux of our national identity is less about these tangible anchors than our existential need for them. This desire is most evident in nostalgia – increasingly common and inevitable in a country where change and progress are synonyms. As a millennial digital native, I recognise that social media makes nostalgia more contagious too, creating an algorithm-aggravated collective pining for a past we never knew. It's captured in one popular Facebook group, for starters: Heritage SG Memories. Pictures of Wisma Atria's iconic giant aquarium, for example, tend to see many members reminiscing about the days it was the standard meeting spot. The aquarium, demolished in 2008, only featured occasionally as a gathering point in my memory – but I can't be certain. Like plenty on social media, nostalgia also gets reduced to the most relatable anecdote, and I end up inheriting and remembering experiences I didn't quite live through. And this cultural yearning is only likely to increase, with rapid urban evolution the norm in a land scarce nation. Hobbyist photographer Jonathan Tan noticed a similar sentiment when he started Lepak Downstairs – a photo series of old-school stools and tables found at HDB void decks. Some people told him they appreciated his effort to 'capture history in photos', the 36-year-old said. Without such quaint designs anymore, newer Build-to-Order (BTO) flats 'don't have character'. 'I think people get emotional when these things disappear because there isn't really a replacement. It feels like the disappearance isn't justified. You're taking a piece of their childhood … their memories away, but there's nothing put in place for it,' he added. THE 'TENSION' IN NOSTALGIA So, it seems to many that being Singaporean – or at least having a sense of belonging to this country – lies in constantly navigating the gap between preservation and progress. It's a process often steeped in nostalgia. The creator behind the Instagram account @hdb_mrt, whose film photos reflect a familiar overtone of longing, said he started the account almost a decade ago partly because he was 'searching for this idea of home'. Syafiq, who requested to only use his first name, said he didn't just want to capture the older parts of Singapore that may soon disappear, but to 'remember what we have now and to contemplate what it means to live in this country, to live as Singaporeans, to experience the world as we do'. 'Within that is also a sense of nostalgia,' the 36-year-old said. 'Because the search for home is nostalgic in nature.' To him, nostalgia is a 'longing for a place, time, event or feeling that we cannot go back to'. It's an emotion that 'only exists when we have loss' and has to do with 'how things have changed so much so quickly within our lifetime', such as realising our childhood neighbourhoods are no longer the same. View this post on Instagram A post shared by Suburban Singapore (@hdb_mrt) Heritage educator and millennial Ho Yong Min has similarly observed that his generation is starting to wonder: 'Are the places that I'm growing up in starting to be lost?' The 'trade-offs' create a 'tension in our hearts', believes the 41-year-old founder of The Urbanist Singapore, a content platform dedicated to heritage storytelling amid urban design. 'In Singapore where every square metre is optimised, it tightens the sense of how spaces are so precious. I think it becomes psychological angst for folks who are growing up and witnessing change, (knowing) that obviously has to be balanced out with the need for change. So it's very complex.' There is 'a bit of a paradox' to negotiate living in Singapore, added Dr Felicity Chan from the Lee Kuan Yew Centre for Innovative Cities at the Singapore University of Technology and Design (SUTD). 'To enjoy Singapore, you must be very adaptable to change, but we also know that people like stability,' said the deputy director for the Master of Science in Urban Science, Policy and Planning. Perhaps then, as Syafiq suggested, our nostalgia is also an 'inability to be satisfied with what we have now' and a 'reckoning of the present'. His photography, although it may resemble vignettes of a simpler Singapore, thus compels viewers to reflect on what it means to 'be in the now'. HOW WE CAN EMBRACE NOSTALGIA'S INFLUENCE Some may argue the cure for nostalgia is not to get overly attached to anything – a neighbourhood shop, a local business, a daily path you take to work – in the first place. SUTD's Dr Chan noted that it has become "quintessential Singaporean to rationalise and not hold onto things too tightly". "We've learnt to accept that one cannot expect things to stay the same way for a long time … And because things change so quickly, you don't even realise that you haven't had enough time to develop the depth of emotions before (a place) is gone.' Yet, forming attachment is only human nature. To deny ourselves that experience in exchange for an easier time letting go in future isn't pragmatism, just cynicism. And despite our best efforts, nostalgia resurfaces time and again. Even youth may start experiencing nostalgia at a much younger age too, being exposed to increasing online content about urban change in Singapore. As a full-time educator, Syafiq said his students, most in their mid-teens, aren't often 'given credit' for the nostalgic feelings they have for their childhood. But he believes this nostalgia will inadvertently mould their Singaporean identity as they grow up. Seeing nostalgia as integral to nation-building may hence better reveal what anchors our sense of belonging from an earlier age. After all, as Dr Chan observed, the search for identity among youths is a lot more "acute" than in someone older, when there is more identity "stability". View this post on Instagram A post shared by Yong | The Urbanist Singapore (@ With physical symbols of heritage, Ho from The Urbanist Singapore believes it's important to take a 'more nuanced view' to get people thinking about what heritage means to them. He focuses on how to respect and pay homage to our heritage rather than the 'total loss' whenever a building or business disappears. 'Because heritage actually comes from the word 'inheritance'. It's something that we can steward from generation to generation,' he said. 'So while there is a feeling of loss, there's also a recognition that there are government agencies like HDB and the Urban Redevelopment Authority (URA) that do what they can to try to infuse heritage and history into urban planning or a new estate that's being developed. 'The question isn't whether to develop, but how to integrate memory into progress. I feel that is the more constructive way forward – and obviously the 'how' to integrate is important. It should not be something cursory.' Ultimately, things don't have to last forever to leave a mark, even if that runs counter to the Singaporean instinct for stability. While knowing this may not dull the weight of our perennial nostalgia, it just means nostalgia is as baked into our DNA as a desire for economic progress. For in a country where change is the only constant, loss is too.
CNA
08-05-2025
- Business
- CNA
CNA938 Rewind - #Talkback: Are we seeing the death of the department store as anchor tenant in the heartland malls?
CNA938 Rewind Play Tampines Mall's Isetan outlet closes this November - the latest in a gradual decline of department stores in Singapore, following the exits of Robinsons, Sogo, John Little and others. Lance Alexander and Daniel Martin discuss further with Professor Sharon Ng, Professor of Marketing, NTU.
AsiaOne
08-05-2025
- Business
- AsiaOne
Isetan at Tampines Mall to shutter in November after almost 30 years , Lifestyle News
For almost 30 years, Isetan stood as a familiar sight in Tampines Mall — but soon, there's going to be a change. In a Facebook posted uploaded on Tuesday (May 6), the mall announced the closure of the Japanese department store — which has been operating since the mall's launch in 1996 — this coming November. The department store carries a range of apparel and beauty products, among others. The mall also hinted that shoppers will have an "exciting new chapter" to look forward to, but did not go into detail. "An exciting new chapter is on the way. We're transforming the space to bring you an elevated shopping experience with the latest in fashion, beauty and lifestyle. Something exciting is on the horizon, stay tuned!" they stated. With the impending closure of the store in Tampines mall, there are only two Isetan stores left — Isetan Scotts at Orchard and Isetan Serangoon Central. A company spokesperson told The Straits Times that the decision was made as its lease was coming to an end. AsiaOne has reached out to CapitaLand for more information. The announcement has sparked a discussion online. On Reddit's r/Singapore thread, for example, many are speculating that department stores like Isetan might soon be phased out like other counterparts such as John Little and Yaohan, which shuttered their physical stores permanently in 2016 and 1998 respectively. Others have also attributed the closure to competition, pricing and the emergence of online shopping. "These kinds of departmental stores are phasing out nowadays when people know how to source and buy directly from suppliers online," said one user. "The pricing for most of the stuff sold at Isetan is way too expensive. People end up buying from somewhere else or even online," read another comment. [[nid:589079]]
