One casualty was the 162-year-old Robinsons department store chain. Robinsons shut its physical doors after six consecutive years of losses, as it struggled with intense competition from other department stores and e-commerce ventures.
This year is the year of the e-commerce boom.
Last year, during the beginning and the height of the Covid-19 pandemic, the retail industry struggled as stores were forced to close to control the virus outbreak in Singapore. Several brands struggled to stay relevant as physical shopping activities ground to a halt.
