Orchard Road: At an all time low
Known as Singapore’s premier shopping belt since the 1960s after the area was zoned for retail, Orchard Road is no stranger to the retail scene. However, Singapore’s once-famed shoppers’ paradise is slowly losing its significance. This is evident in the falling foot traffic along the 2.2km retail strip and the five-year high vacancy rate of 8.7% since the first quarter of 2016. Several factors can be said to have contributed to the gradual demise of Orchard Road – such as