SINGAPORE, March 10 — Swiftonomics has swept through Singapore after the American pop star performed six sold-out shows here, but for small businesses, the spoils are not equally...
SINGAPORE, March 10 — Swiftonomics has swept through Singapore after the American pop star performed six sold-out shows here, but for small businesses, the spoils are not equally shared.
At the same time, there have been questions posed by commentators online about whether the spoils will trickle down to the small businesses or the man on the street.spoke to ranging from food and beverage firms to healthcare businesses, the outcomes are mixed.A sharp 80 per cent fall in business was observed by staff members at Ji Xian Seafood and Hong Kong Dim Sum Express at Kallang Wave Mall, which is next to the stadium.
“This was unlike the Jacky Cheung concerts , where attendees were older and had more spending power, we had seen an uptick in businesses back then,” added the dim sum restaurant staff member. “When the event has older people attending it, the increase in business would not be as great. For example, when Jacky Cheung came, there was no increase in business at all,” said the stall owner.As Swift’s concerts neared, the pubs and bars around the National Stadium recalled that there was a palpable excitement among them that a higher foot flow, along with a post-concert high, would result in skyrocketing sales from thirsty revellers.
While the week Coldplay played here in January saw an increase in sales by fourfold compared to a non-event week, the Swift’s concerts only gave the bar a twofold boost. Citing similar reasons such as clients being unwilling to be stuck in traffic jams or jostle with the crowd, a staff member at Kin Teck Tong TCM Clinic said such disruptions have become more common due to the regular large-scale events following the pandemic.
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