21 Dec '11, 3pm

Orchard Rd retailers see jump in sales this festive season

Orchard Rd retailers see jump in sales this festive season

SINGAPORE: Orchard Road retailers are ringing in more sales this festive season. They said sales have jumped five to eight per cent this year compared to 2010. And the global economic slowdown has done little to dampen retailers' outlook for the new year. Shoppers that Channel NewsAsia spoke to said their shopping budgets this year have either stayed the same or gone up. Among those who benefit are shopping malls owned by CapitaMalls Asia. The company said shopper traffic across all its malls in Singapore has gone up this December compared to the same period in 2010. It said: "We remain optimistic about the festive season, which is typically the peak period for the retail industry, and expect to see strong sales in our malls in the run up to the holidays. Chinese New Year comes early in late January. Hence, retail sales should continue to maintain a strong momentum through...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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