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Triple whammy hits Orchard Road retailers
Cafes to clothing stores see takings down by as much as 50 per cent as fewer customers come in. -ST
By Tessa Wong & Sumathi V. Selvaretnam DOZENS of Orchard Road businesses, hit by a triple whammy of turmoil in the financial markets, dropping tourist numbers and rising Electronic Road Pricing charges, have seen their revenues plunge in the last few weeks. A Straits Times survey of 62 tenants in six malls along the street's main shopping belt found that more than half are suffering as receipts have dropped steeply. Businesses from restaurants and cafes to fashion retailers and salons say takings have tailed off by about 10 to 30 per cent.
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