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Singapore Retailers Hit Hard by Increased Covid Restrictions

Singapore skyline. Shutterstock.

Brick-and-mortar retailers in the country saw sales plummet as far as 70 percent since the onset of the pandemic, reported CNBC. Singapore re-introduced tighter Covid restrictions — including limitations of public gatherings and prohibition of dine-in service — this week as the number of new infections continue to climb. On Friday, the government introduced a new support package worth 1.1 billion Singapore dollars ($808 million) to aid businesses impacted by the restrictions, which included assistance in moving local retailers to online channels, according to CNBC.

Further Reading: Will Singapore Win Asia’s Start-Up Race?

Singapore’s fashion start-up scene is abuzz with innovation and plucky entrepreneurs, but agility, adaptability and scale are necessary to succeed in the growing Southeast Asian market.

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Inside the $7 Billion Dior Phenomenon