![](https://i.imgur.com/CLvY2jA.png")
18-09-2024, 06:10 AM
Why giant supermarket closed so many outlets in Singapore
Meta AI: Giant supermarket closed many outlets in Singapore due to declining profitability. The main reasons for this decline were lower foot traffic and increasing operational costs, including rent and manpower expenses ¹. The rise of online grocery shopping also played a significant role, with competitors like FairPrice and RedMart offering aggressive marketing and convenient delivery options ¹.
*Challenges Faced by Giant*
- _Lower Foot Traffic_: Fewer customers were visiting physical stores, leading to decreased sales ¹.
- _Increasing Operational Costs_: Rising rent and manpower expenses made it difficult for Giant to maintain profitability ¹.
- _Online Competition_: Online grocery shopping platforms offered convenience and competitive pricing, attracting customers away from physical stores ¹.
In response to these challenges, Giant's parent company, Dairy Farm, decided to review lease renewals and store performance, leading to the closure of several outlets ¹. Despite this, Giant still operates around 60 supermarket stores across Singapore ¹.
Meta AI: Giant supermarket closed many outlets in Singapore due to declining profitability. The main reasons for this decline were lower foot traffic and increasing operational costs, including rent and manpower expenses ¹. The rise of online grocery shopping also played a significant role, with competitors like FairPrice and RedMart offering aggressive marketing and convenient delivery options ¹.
*Challenges Faced by Giant*
- _Lower Foot Traffic_: Fewer customers were visiting physical stores, leading to decreased sales ¹.
- _Increasing Operational Costs_: Rising rent and manpower expenses made it difficult for Giant to maintain profitability ¹.
- _Online Competition_: Online grocery shopping platforms offered convenience and competitive pricing, attracting customers away from physical stores ¹.
In response to these challenges, Giant's parent company, Dairy Farm, decided to review lease renewals and store performance, leading to the closure of several outlets ¹. Despite this, Giant still operates around 60 supermarket stores across Singapore ¹.
