Is been there for 30 years & now is leaving the Bukit Timah area. Entire 3 storey building will be vacated. This caught my attention as Bukit Timah area is generally an area where affluent people reside. Affluent people can't afford the items?
More likely is the balance sheet affluent people are not easily sucked into paying exorbitant interest on installment payment plans in keeping up with the Joneses.
My family & i have never bought any appliance or furniture on installments. Upon surfing onto courts website i found that their annual interest payments range from around 12-24% which shows that they are in the loans business.
More businesses await them when they relocate to an area which has more financially illiterate people + people unable to control their spending + folks frentically trying to act rich by buying more stuff.
Ever growing consumer debt. S'pore in terms of consumer debt is nearing Peak Debt. Next recession will see more people suffering as housing debts has already resulted in increasing numbers of people unable to grow their retirement fund.