Challenge
The Great Singapore Sale (GSS), Singapore's longest running annual sale for the past 25 years, went from being the busiest nationwide shopping season that attracted large crowds and tourist dollars to a lacklustre non-event. Sales figures during the GSS period paint a telling picture too, as the retail industry suffered a steady decline over the years.
A culmination of a few factors has resulted in the novelty and shine wearing off over the years:
- The rise of e-commerce and online shopping;
- Consumers are spoilt for choice with retailers holding their own sales campaigns all-year round;
- Unimpressive bargains and discounts...