Orchard Road is Singapore's premier shopping district - and it wants to stay that way.
Facing increasing competition from newer shopping areas, such as Marina Bay Sands, the association overseeing Orchard Road will be ramping up efforts to draw in more customers and drive sales.
These will take the form of public-private partnerships and new initiatives to be rolled out in five years, said Steven Goh, the director of the Orchard Road Business Association (Orba).
Goh added that this was necessary because Orchard Road faces competition not only from newer shopping areas such as Marina Bay, but cities such as Hong Kong and Bangkok
A study is now underway to map out a five-year plan to maintain Orchard Road's reputation as the nation's top shopping belt.
Peter Williams, a British consultant engaged for the study, said Orchard Road cannot afford to be complacent.
He said: "We need to keep on reinventing... in order to keep up our competitive advantage."
Patrick Fiat, general manager of Royal Plaza on Scotts, said Orchard Road was losing some of its shine to the Marina Bay area.
"The buzz, fun and action have moved to the Marina Bay area with the new attractions," he added.
Retail and management consultants said the challenge for Orba is to get businesses in Orchard Road to see beyond their bottom lines and invest in the area. They added that Orba also needed to find a sustainable funding model to pay for its initiatives, which now include the annual Christmas light-up along Orchard Road, and fashion show Fashion Season@ Orchard.
Currently, Orba has 65 members - mainly hotels, shopping malls and retailers - that represent about 80 per cent of Orchard Road properties.
Goh said Orba can do more to represent the interests of Orchard Road businesses by laying out clear, long-term plans.
Some ideas it is considering include adding water fountains to the street, and modifying road signs to show not just the streets but also landmarks.
A mobile phone location-enabled app that lists all the shops and restaurants in Orchard Road may also be in the works.
For the longer term, Orba will explore the possibility of making Orchard Road vehicle-free on weekends, Goh said.
But first, he would need to reach out to the street's stakeholders, which range from property owners to small retailers - all of whom have different needs, Goh said.
"At the end of the day, this should be an inclusive organization that looks after the interests of all stakeholders. We are very clear on that."
In January, beating 29 other shopping strips - including Tokyo's Ginza and Paris? Champs-Elysees - Orchard Road was named the world’s best shopping street by Presence Mystery Shopping, a French marketing consultancy.