Times Bookstores, a longstanding presence in Singapore's literary landscape, has recently decided to close two more of its outlets, signaling a significant shift in the local book retail scene. The chain has bid farewell to its Plaza Singapura and Waterway Point branches after more than 40 years of operation in the country.
Image: Facebook/Times Bookstores
The closure of these outlets marks a somber moment for book lovers and industry observers alike, raising questions about the future of brick-and-mortar bookstores in an increasingly digital age. Despite the challenging environment, Times Bookstores will keep its doors open at one location, the Cold Storage Jelita outlet in Holland Road.
The news of Times' closures comes amid a broader trend of downsizing and restructuring within the company, with similar closures occurring in Malaysia as well. Over the past five years, several branches have shut their doors, including the Centrepoint store in 2019, followed by Marina Square and Paragon in 2021, with the challenges exacerbated by the impact of the COVID-19 pandemic.
The closure of its outlets underscores the increasingly tough conditions faced by traditional bookstores. Rising rents, higher operating costs, and shifting consumer habits have all contributed to the challenges confronting book retailers in Singapore.
The closure of Times Bookstores' outlets has prompted reflection within the literary community, with concerns raised about the accessibility of Singapore literature and the impact on local publishers. Amidst the uncertainty, there remains hope that anchor bookstores like Kinokuniya and Popular, along with other independent retailers, will continue to serve as vital hubs for literary engagement and discourse while continuing to diversify their niche to ensure survivability.
Image: The Straits Times/Kua Chee Siong
As the book retail landscape evolves, stakeholders emphasize the importance of collaboration and innovation to ensure the survival of physical bookstores in an increasingly competitive market. Finding the right balance between commercial viability and cultural significance will be essential in charting the future course of Singapore's book retail industry.