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Abstract
Great opportunities for retailers lie in the Mass Rail Transit (MRT) malls in Singapore, as they are strategically located next to bus interchanges and MRT stations. However, to gain maximum competitive advantage, retailers must understand consumers' perception of MRT malls as this affects consumer behaviour in retail business. To determine consumers' perception of MRT malls, about 250 shoppers were surveyed at five MRT malls: Northpoint in Yishun (North), Junction 8 in Bishan (Central), Tiong Bahru Plaza in Tiong Bahru (Central), DBS Tampines Centre in Tampines (East), and Jurong East Entertainment Centre in Jurong (West). The results show that consumers value convenience, variety, and clean and air-conditioned environment when they patronise MRT malls. Retailers need to advertise and display their merchandise while mall owners need to attract a good mix of tenants, maintain a clean environment, and provide good facilities to gain customer satisfaction. Communal activities should also be held in the malls to make them commercially viable.
Keywords: Mass Retail Transit Malls; Singapore; Implications for Entrepreneurs
Introduction
MRT malls are a common sight in suburban areas in Singapore and are fast changing the lifestyle of many Singaporeans in the suburbs. These MRT malls have shopping outlets, restaurants, food courts, Cineplex, entertainment arcade, and chain stores. Hence, they provide shopping, food and beverages, services, and entertainment under one roof. New malls now rival those in the city.
Retail Business in Singapore
Retail business in Singapore now has never been more competitive. Retail space is growing in the city area. By 2001, the retail space in Orchard Road will increase by about 5 percent to 4.85 million square feet. The result is more competition from new tenants. Furthermore, with the strong Singapore dollar, dwindling purchasing power of tourists affected by the recent economic crunch in the ASEAN region, and growing regional competition from Manila, Kuala Lumpur and Jakarta, to name a few, Singapore's status as Southeast Asia's shopping hub is at stake. Even major retailers like C K Tang, Metro, and Galleries Lafayette have to change their merchandising strategy, trim their operations and refocus on local shoppers instead of tourists. Galleries Lafayette had closed its operations in Singapore. The government's move to create new regional centres is providing new opportunities for the battered...