Retail

Singapore retailers reeling from Covid measures as sales drop up to 70%

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People inside a shopping mall in Singapore on May 15, 2021, ahead of tightening restrictions over concerns of a rise in Covid-19 coronavirus cases.

Roslan Rahman | AFP | Getty Images

SINGAPORE — Singapore’s brick and mortar businesses have been hit hard by Covid-19 and retailers have seen sales plummet significantly as a result of Covid restrictions, according to a retail trade body in the country.

Sales have plunged between 30% to 70% for some retailers since the onset of the pandemic, according to Rose Tong, executive director of the Singapore Retailers Association (SRA), a not-for-profit organization with 420 members spanning sectors like fashion, electronics, beauty and wellness, as…



Source cnbc.com

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