[Oyk]

Likely due to high rental cost.

Inside Bedok Interchange, the half shop size rental is already $5k per mth.

Maybe the Bedok Central Hawker Center full size ( quite big) rental is $7k per mth?

Yes, you have a point.

The food business, in particular the hawker food business, is a FMCG industry.  Its profit margin is low but the sales volume is high, and that's where the total profits come from. Makes $2 per customer but you sell to 150 customers, and make $300 a day....deduct rent, food cost, stall assistant's salary, some overheads, and you see how much you can make.

This is different from selling watches, say Rolex and Patek Phillipe.  How many can sell in a day?  So, the profit margin for watches is high.

But when a FMCG business starts to sell high and reap huge profit margin, then it's up to the market on the demand side to push back...