4 pages/≈1100 words
Business & Marketing
Research Project FM Studio (Essay Sample)
For your research project you will be researching and analysing in-depth the retail scene of Singapore, in particular its multi-label boutiques, applying methodologies that you have learnt so far. Further you will analyse retail concepts, national and international, that proofed successful or will be successful for the future. 1000 word report Do include images and info-graphics (as applicable) Singapore retail scene Focus on multi-label boutiques and concept stores Cross reference retail concepts (both local and international) Identify “formulas” to success source..
Research Project FM Studio
Research Project FM Studio
In Singapore, the retail industry is highly visible and it is regarded as a critical component of the economy. Apart from being a business source, it defines the way Singaporeans and international shoppers work and live. Multi-label boutiques and concept stores in Singapore are some of the latest retailing concepts introduced in the market. Bruce (2012) says that multi-label boutiques are providing shoppers with an opportunity to shop independently. In addition, fashion stores enables people to stand out from the rest of the crowd since fashionists are providing perfect fashion-forward bargains. Several concept stores and multi-label boutiques have been established in Singapore and this has enabled people to widen their fashion horizons.
Several retailing concepts have been applied in Singapore and most of them have been designed to meet the needs of both locals and foreigners. For instance, people who have had an opportunity to visit shopping centers in the country are aware of the ‘Orchard Road’, a famous shopping district in the country (Adrian, 2011). One major retailing concept applied in this region is a focus on luxury brands such as Anne Foutaine reside, Hermes and Louis Vuitton.
Multi-label fashions (Source: Bruce, 2012)
This shopping district is popular among tourists and it is increasingly becoming a hot spot for multi-label boutiques and concept stores. Since the retail scene is cosmopolitan, Singapore is one of the four Asian countries which were rated in the top 20 countries in the world in terms of international retailers who frequent their retail sectors (Adrian, 2011). In terms of retailing concepts, Singapore has managed to established popular global brands such as Massimo Dutti, Sephora, Gap and TM Lewin. Multi-label boutiques and concepts stores are among some of the most popular identity stores in the country.
Most of the new brands being sold through multi-label boutiques are taking into consideration both national and international concepts. For instance, local brands are set to gain more marketing opportunities as new malls are opened such as ION Orchard, Orchard Central, and Marina Bay Sands (Bruce, 2012). This has elicited a lot of excitement as Singapore sets to establish itself as the most popular retail shopping destinations. Concepts stores and multi-label boutiques will benefit greatly as life-style related sectors are established. These shopping destinations are ebullient and vibrant and this is the major reason why they attract both local and foreign shoppers.
However, Shyan (2009) says that for the new retailing concepts to remain competitive, several factors which affect the industry must be addressed. Multi-label boutiques require a high degree of specialization and professionalism. Singapore market is relatively labor...
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