Yes, the wet market is an interesting feature of Singapore life. Unfortunately, as life progresses here, and as you pointed out, when people are working and busy, many opted for the supermarket, some of which are open 24 hours. The supermarkets are clean and air-conditioned. That is also an added attraction - plus which they carry more stuff so one can do marketing and buy sundry stuff. And because they are big corporation/companies, they are able to get discounts from suppliers - which they can pass on to their customers. So, they are not overly more expensive than the wet markets. In some instances, they are cheaper. So, all factors add up - giving the wet markets a run for their money.
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Yea, supermarket prices are getting very competitive. The only differentiating factor wet markets have will be the relationship built between the stall owners and customers. But even with that, it will be hard for wet market to sustain...
Yes, you are absolutely right. The stall holders have a rapport / relationship with their regular customers. Sometimes, they reserve the good stuff for them, and sometimes will tell them that the items which the customers want to buy are 'not so fresh today', and ask if they can wait till the next visit. Sometimes, they will recommend customers - or if you ask them - they will tell you how to cook the items, the best method and ingredients to go with it. This, you will never find in the supermarkets. Cheers!