Singapore’s retail sector is facing questions about potential oversupply as shopping mall performance varies significantly. CNA’s report investigates why some malls are successful while others are struggling to attract customers. A key concern is whether the number of malls exceeds current demand, leading to increased competition. The analysis also points to a trend of homogenization, with malls increasingly offering similar tenant mixes and experiences. This lack of differentiation may be contributing to the challenges faced by some shopping centres. The report explores the factors influencing mall success in a rapidly changing retail landscape, including evolving consumer preferences and the rise of e-commerce. Ultimately, the investigation seeks to determine the long-term sustainability of Singapore’s current mall model.