A business owner says attempts to rejuvenate the area have come a little too late. FMTNews Covid19
A man walks past a closed retail mall along Orchard Road in Singapore on May 6.
The alterations outlet, which caters to both tourists and locals, has seen sales drop by 90% since the virus outbreak.Orchard Road’s malaise is a microcosm of the city-state’s pain. Singapore’s economy plunged into recession last quarter as an extended lockdown shuttered businesses and decimated retail spending, a sign of the pain the pandemic is wreaking across export-reliant Asian nations.Robert Chua, who runs a discount luggage store in Far East Plaza, reckons he can last about another two months.
At least 20 stores in Far East Plaza, which is part owned by the billionaire family behind RB Capital, are empty, ‘For Rent’ stickers optimistically plastered on their shutters. “Before the pandemic, Orchard Road had already seen a decline in foot traffic and sales,” said Wong King Yin, a lecturer in marketing at Singapore’s Nanyang Technological University.
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