How Is the Financial Turmoil Affecting Your Retail Business?

juinjuin · 20-11-2008, 11:34 AM

Dear all

It would be interesting to see how the current economic downturn triggered by the global financial crisis is affecting the retail trade in Singapore since it became full blown in Sep 2008.

How is your business currently doing in Q4 2008, which will be the first full quarter since the economy fell into "technical recession" in Q3 2008?

Please participate to see how the overall picture is looking like.

Your participation is anonymous to protect your privacy.

Thank you.

ctcart · 20-11-2008, 10:47 PM

yeah please share, do you think biz will pick up slowly maybe 3-5yrs later? i wanna be in biz line so much, but this economic down scared me, but I still love to biz, am i in hot soup?

EarthlyScents · 26-02-2009, 12:32 AM

All I can say is in everything you do, there's always a certain risk. I took it up inspite of the economic downturn because people still need to earn a living. People still need to eat and survive. Therefore, people need to spend to boost the economy. If you don't sell because everyone's tightening their wallets, then how will the country proper? Life is a gamble. So is business.

ChinChic · 04-03-2009, 02:18 PM

no offence but our local population is too small. as such, increase in internal consumption will not help much at all. therefore you can see the stark contrast between our SG & China govt's approach to encourage internal consumption.

petchow · 29-03-2009, 11:26 AM

I have been in retail for 3 years and this is a really bad year. Sales are down by 40% for the past 2 months so think carefully before you jump in.

prettydress · 12-07-2009, 09:32 PM

After CNY every month my sale had dipped until 60% luckily i do not have any worker so my cost not very high. I also thought of selling my business after my contract finish.Nowadays you want to start retail business better think twice.

View Poll Results: How is the Economic Downturn Affecting My Retail Business in Q4 2008?
Disastrous - Sales Collapsed by More Than 50%	15	22.73%
Severe - Sales Dropped by 10%-50%	23	34.85%
Moderate - Sales Declined by Less Than 10%	14	21.21%
Neutral - Sales Have Remained Unchanged	9	13.64%
Recession? What Recession? My Sales Have Increased!	5	7.58%
Voters: 66. You may not vote on this poll

20-11-2008, 11:34 AM	#1
juinjuin Member Join Date: Mar 2007 Posts: 26 My Reputation: Points: 20/ Rep Power: 0	How Is the Financial Turmoil Affecting Your Retail Business? Dear all It would be interesting to see how the current economic downturn triggered by the global financial crisis is affecting the retail trade in Singapore since it became full blown in Sep 2008. How is your business currently doing in Q4 2008, which will be the first full quarter since the economy fell into "technical recession" in Q3 2008? Please participate to see how the overall picture is looking like. Your participation is anonymous to protect your privacy. Thank you.

20-11-2008, 10:47 PM	#2
ctcart Senior Member Join Date: Apr 2007 Location: GEYLANG Posts: 74 My Reputation: Points: 10/ Rep Power: 18	Re: How Is the Financial Turmoil Affecting Your Retail Business? yeah please share, do you think biz will pick up slowly maybe 3-5yrs later? i wanna be in biz line so much, but this economic down scared me, but I still love to biz, am i in hot soup?

26-02-2009, 12:32 AM	#3
EarthlyScents Senior Member Join Date: Jan 2009 Location: Ghim Moh Rd Posts: 89 My Reputation: Points: 10/ Rep Power: 16	Re: How Is the Financial Turmoil Affecting Your Retail Business? All I can say is in everything you do, there's always a certain risk. I took it up inspite of the economic downturn because people still need to earn a living. People still need to eat and survive. Therefore, people need to spend to boost the economy. If you don't sell because everyone's tightening their wallets, then how will the country proper? Life is a gamble. So is business.

04-03-2009, 02:18 PM	#4
ChinChic Senior Member Join Date: Feb 2009 Location: The little Red Dot Posts: 54 My Reputation: Points: 10/ Rep Power: 16	Re: How Is the Financial Turmoil Affecting Your Retail Business? no offence but our local population is too small. as such, increase in internal consumption will not help much at all. therefore you can see the stark contrast between our SG & China govt's approach to encourage internal consumption.

29-03-2009, 11:26 AM	#5
petchow Senior Member Join Date: Mar 2009 Location: East west Posts: 175 My Reputation: Points: 10/ Rep Power: 16	Re: How Is the Financial Turmoil Affecting Your Retail Business? I have been in retail for 3 years and this is a really bad year. Sales are down by 40% for the past 2 months so think carefully before you jump in.

12-07-2009, 09:32 PM	#6
prettydress Senior Member Join Date: Jun 2009 Location: orchard Posts: 225 My Reputation: Points: 10/ Rep Power: 16	Re: How Is the Financial Turmoil Affecting Your Retail Business? After CNY every month my sale had dipped until 60% luckily i do not have any worker so my cost not very high. I also thought of selling my business after my contract finish.Nowadays you want to start retail business better think twice.

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