Beyond rent, why don’t some international brands last in Singapore – while others do?

After 16 years in the country, American health and wellness product Holland &, Barrett recently announced its return from Singapore on March 10 and shut down all of its 12 stores.  ,
Hands, a former home of Tokyu Hands, even shut down its Jewel Changi Airport location the same day. Singapore has three sources still, down from its previous six.
This quarter, Burger & Lobster bid goodnight to Jewel Changi Airport. One of the longest-running locations at the store since its beginning in 2019 was the famous London restaurant’s Singapore shop, which had a focus on lobster rolls and sandwiches.
Another cherished English merchant, Marks &, Spencer, shut its Parkway Parade business in February after more than 20 years at the store.
Never mind the various goods and services, locations, or client demographics, commenters came to the conclusion that the primary factor in each situation was always book. The implicit premise was that lowering the cost of rent, which is frequently seen as the main operating expense, would help a company stay afloat long.  ,
Rent is not at all special to organizations that have closed down, though. Although it may ultimately be the cause of a bank’s collapse, it often seems to be the only factor.  ,
For the time being, it seems that some foreign brands have finally found the obscure formula in Singapore.  ,
ADAPTING TO LOCAL REFERENCES
Furniture, Don Don Donki, Haidilao, and Shake Shack were cited by an expert in stores and urban finance as standout success tales in Singapore, mainly due to their resilience.
According to Assistant Professor Li Zhonglin from the National University of Singapore Business School, these companies have “maintained their main benefit statement” while embracing local interests.
International bars had balance regional needs, historical interests, high prices, fierce competition, and an expanding e-commerce landscape with their international brand identity. However, over-localizing can obscure a company’s essence, and remaining firm may turn off local customers.
Asst. Prof. Li cited the Swedish company Ikea as an example of how it keeps its “budget-friendly equipment focus” and adds “locally encouraged menu items” to it.  ,
The “reputated for its outstanding service” of China’s Haidilao customises its hotpot sauce bases to the tastes of Singaporeans.
Similar to Shake Shack, an American burger joints, has “regionally inspired services,” which are crucial to its long-term charm.
In contrast, Chinese artist Don Donki is focused on a” certain niche with a huge following”: those who are eager to purchase Chinese snacks and household goods at “wallet-friendly prices.” ( It also doesn’t hurt that the essence of Don Don Donki cannot be replicated online. )
And as for gimmick, there will always be a business. While we detest the bleak state of our financial and dining industries, perhaps we also contribute to the churning by continually looking for the next huge brand to understand the Singaporean psyche.
According to Dr. Lynda Wee, an adjunct associate professor of marketing at Nanyang Technological University, “businesses can see the cause-and-effect and increase their giving, promoting quick use and shorter product life cycles,” according to Dr. Wee.
This creates anxious clients who are eager to learn more about the following interesting thing. Therefore, fresh and exciting affords are made.”