The phenomenon involving the closure of several retail stores indicates the difficult situation in the retail industry has yet to end. Online shopping has yet to replace traditional shopping centres, but its extensive presence is creating some impact to conventional stores.
Today, shopping is more about efficiency and simplicity. We have witnessed a change in the preference of people to shop at a nearby store, supermarket or through online shopping. For fashion or cosmetic products, people prefer to come to speciality stores rather than big ones. We think it is a chief priority to re-arrange tenancy composition and immediately replace underperforming retailers with new tenants that could attract more people and bring in a crowd.