Singapore’s PaperMarket Closes After 20 Years
After two decades of delighting fans with unique stationery and gifts, PaperMarket, a beloved local shop in Singapore, is closing its doors. Founded in 2005 by Elaine Ong, this store became a go-to destination for scrapbooking enthusiasts and craft lovers. Unfortunately, rising costs have made it difficult to continue.
On April 30, PaperMarket announced its closure on social media. The team shared, “This is the hardest post we’ve had to write.” Despite their efforts, including lengthy discussions about how to keep the business running, the financial strain proved too much.
The store is currently located at Great World, having previously operated at Raffles City and Plaza Singapura. Though they didn’t reveal the exact date of their last day, they are offering a clearance sale with discounts up to 70%. They’re also selling store furniture and display fixtures.
Fans of PaperMarket reacted on social media with fond memories and heartfelt messages. Many recalled their time spent at the Raffles City store, describing the joy of walking through the aisles filled with the scent of paper and crafts. One customer reminisced, “I have such fond memories of browsing the store during my scrapbooking days.”
The store initially gained popularity for its scrapbooking supplies, like DIY kits and stickers. Over time, it expanded to include lifestyle brands such as Kate Spade and Baggu. While the physical store may be closing, PaperMarket will continue to operate online, allowing their loyal customers to keep shopping for their favorite items.
This closure comes at a time when many independent retailers are struggling. According to a report by the Singapore Retailers Association, around 60% of local businesses reported drops in revenue due to increased operational costs and changing consumer habits.
PaperMarket’s farewell post expressed the team’s sadness about leaving the physical space but emphasized the importance of their community. They encouraged long-time customers to visit for one last memorable experience.
In a final message, the team stated, “Our friendships with you have been the most meaningful part of this journey.” As PaperMarket ends one chapter, its legacy of connecting with the creative community in Singapore will be remembered fondly.
For more insights on the challenges faced by local retailers, you can read the full report from the Singapore Retailers Association here.
