Viewpoint | Creating Resilience
Singapore Viewpoint - Omnichannel Retail and its Impact on Singapore real estate
November 3, 2022
Singapore e-commerce has grown rapidly over the past five years, with expansion accelerating since the pandemic. CBRE Research forecasts online penetration rate to increase to 22% in 2026, driven by the increase in debit and credit card use/ adoption of digital wallets, and the vibrancy of the e-commerce ecosystem.
While physical retail is expected to remain the dominant sales channel, retailers and landlords need to re-invent themselves to embrace omnichannel strategies.
The growth in e-commerce, in addition to manufacturing and trade growth, should continue to drive demand for logistics real estate in Singapore. Logistics occupiers are advised to explore build-to-suit developments and invest in the latest warehouse technologies.