Both local and visiting MasterCard cardholders
combined, spent US$368.5 million over the first month of the Great
Singapore Sale (GSS) between 29 May and 27 June 2009, an increase
of 1% versus the same period last year (23 May - 21 June 2008).
Overall, the number of transactions rose 14% to 3,151,586 this
Tourist spending was up 3% compared to the same period last year, with visiting cardholders buying US$130.8
million worth of goods and services. Cardholders from the US,
Australia, UK and Malaysia were the biggest spenders.
by Singaporean MasterCard cardholders was almost equal to last
year, down only marginally by 0.2% to US$ 237.7 million.
Transactions though were up 13%, indicating that local shoppers
made a larger number of small-ticket item purchases in the first
month of this year’s sale.
“True to our expectations,
consumers are looking for great savings and big value in these
trying economic times, and it is clear that they appreciate the
effort that the retailers have put in to give them what they want in terms of discounts and promotions,” said Lau Chuen Wei,
Executive Director, Singapore Retailers Association.
that the Singapore Tourism Board (STB) had worked to increase awareness of the
sale with new
initiatives including a ‘Tag and Win’ online contest as well as
tactical activities including distributing free ice-cream and
balloons during sale weekends under the ‘2009 Reasons to enjoy
Singapore’ marketing campaign, Andrew Phua, Director of Tourism
Shopping & Dining at STB said,
“The latest MasterCard GSS spend data figures are encouraging
as they indicate that shoppers, both locals and tourists, are
realizing savings with the many shopping deals lined up.... With
a few more weeks left to the sale, we hope shoppers will take
the opportunity to enjoy more savings with their GSS buys.”
Julienne Loh, vice president and
Country Manager, Singapore, MasterCard
Worldwide added, “The data reinforces the GSS’s position as an important fixture on
Singapore’s retail calendar, offering consumers great savings
and bringing in valuable tourist dollars to the economy. Savvy
shoppers count on the sale to deliver the best discounts and so
plan months ahead to make their purchases during the sale
period. That’s why despite the times, overall spend by
MasterCard cardholders was up 1% during the first month of the
GSS, as shoppers made value purchases and focused on getting
more for less with the privileges offered on their cards.
Overall, transactions were up 14% versus last year, indicating
that shoppers were buying more small- ticket items. Tourist
spending also increased by 3%, supporting Singapore’s position
as an attractive premier shopping and leisure destination for travellers.”
Electronics items were one of the biggest draws for
Singaporean cardholders. Although not among the top three spend
categories, electronics ranked high in the list. Local consumers
bought US$6.3 million worth of gadgets and gizmos in the first
month of the Sale or 27% more than last year.
cardholders have been especially receptive to the deals offered at
large electronics fairs taking place during the GSS period,
sending spend in the electronics category up 27%. Singaporeans,
with their love for all things tech, are using this opportunity to
stock up on consumer electronic items such as laptops,
software, cameras and music players,” Loh said.
highlights of the first month include:
Mirroring the trend
observed during the first weekend of the GSS, the top three spend
categories for Singaporean cardholders over the first month of the
sale were Eating Places and Restaurants, Department Stores and
Grocery Stores and Supermarkets.
Thrifty consumers continued to
cut back on spending at Eating Places and Restaurants by 12%,
while spending 56% more in Grocery Stores and Supermarkets.
Spend by American
and Australian cardholders registered a significant increase (44%
and 20% respectively) compared to the same period last year. US
cardholders emerged as the top tourist shoppers during the
first month of the sale, spending US$ 21.3 million, while
Australian cardholders came in a close second, spending US$ 19.5
million. Cardholders from the UK came in as the third largest
group of spenders, registering a 7% increase in expenditure
compared to last year.
Americans spent the most on electronics while Australians
preferred shopping at duty free stores. Clocks, jewellery,
watches and silverware were favourites with tourists from the UK.
Cardholders from Malaysia enjoyed shopping the most at department
stores while Japanese tourists preferred to pamper themselves at
health and beauty spas.
Dining continued to be a key part of the
sale experience for both
local and tourist cardholders. Shoppers continued to patronize
department stores, sending spend in that category up 2% to
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