The Year of the Ox is shaping up to be a challenging one, what with the very uncertain economic times currently upon us. Nonetheless, based on my visits to various places such as Tiong Bahru Market,(pictures above)Thomson Road Flower Shops as well as the bustling Orchard Road Department Stores, everyone seems to be out in force with the purpose of buying new clothing,shoes, flowering plants, haircuts and perms,anything to get 'rid of the old and in with the new'.
There is no truth (at least from what I am seeing) that people seem to be only windowshopping.Everywhere there are sales aplenty in Takashima, Paragon,Raffles City and elsewhere and this should be one of the best times of the year for all retailers. However,the busyness of shopping centers is no accurate reflection of the economy as a whole as Singapore's population of 5 Million,has about 1 to 1.5 Million with disposable income, and these cannot translate into any serious GDP growth.If we were one third the size of China , say 400 Million, then it would definately stimulate growth.
Anyway,lets just enjoy the Chinese New Year and welcome the Year of the Ox and the challenges that it will bring.
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