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MasterCard Spending Rises 13% During First Weekend of GSS 2010

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Singapore-based MasterCard cardholders spent US$29.7 million during the first weekend of the Great Singapore Sale (28 - 30 May 2010), a jump of 13% compared to the same period last year (29 – 31 May 2009). The number of transactions made by local MasterCard cardholders in the first weekend has also risen 17% from last year to 330,701.

Tourists were also snapping up deals and taking advantage of the privileges available with their MasterCard cards at the Sale. Visiting MasterCard cardholders made 83,917 transactions, an increase of 25% from last year, and spent US$14.6 million over the first weekend of the GSS, an increase of 31%.

Over the first weekend, both Singapore-based and visiting MasterCard cardholders spent a total of US$44.3 million, an increase of 18% as compared to the US$37.5 million spent last year. The total number of transactions also saw an 18% increase from last year, reaching 414,618.

As an Official Card for the GSS for the seventh year running, MasterCard will be contributing half a cent to the Singapore Children’s Society for every transaction made on a MasterCard card during GSS. The amount will benefit needy children in Singapore.

“The encouraging MasterCard cardholder expenditure data from the first weekend of the Great Singapore Sale echoes the rebound of consumer confidence as revealed by the latest MasterCard Worldwide Index of Consumer Confidence survey. This also indicates that consumers found the deals and privileges offered by retailers and MasterCard to be relevant and attractive. We hope that this positive trend will continue, with more shoppers using their MasterCard cards and contributing to the Singapore Children’s Society during this shopping season,” said Julienne Loh, vice president and Country Manager, Singapore, MasterCard Worldwide.

Other key highlights of the first weekend include:

The top two categories of spend by MasterCard cardholders in Singapore, Eating Places and Restaurants and Department Stores, remained consistent with last year.

Spend for Eating Places and Restaurants and Department Stores saw an increase of 19% and 29% respectively, as compared to 2009. The highest jump in spend observed this year is in Grocery Stores and Supermarkets with a 31% increase in spend as compared to last year.

Consumers from the United States and Malaysia have emerged as the top two spenders for the first weekend of the GSS 2010, with a total spend of approximately US$1.9 million by each market. The United States edged Malaysia by US$37,000 to take the top spot in terms of tourist spending.

Cardholders from Indonesia have more than doubled their spend and number of transactions in the same period as compared to last year, taking the third spot in the top 5 markets in terms of tourist spend. They were the sixth largest group of spenders in 2009. Spend by Australia, who was the top spender market last year, saw a drop of 19%.

Americans spent the most in Eating Places and Restaurants while Department Stores were the hot favourite for cardholders from Malaysia and Indonesia. Top spend category for consumers from Australia was the Clock Jewelry Watch And Silverware Store, which was consistent with the year before and the Japanese recorded the highest transaction amount for Health and Beauty Spas.

Dining continues to dominate spend during the GSS for both Singaporeans and tourists, with a combined spending of US$3.6 million in Eating Places and Restaurants over the first weekend of the GSS. The spend in Department Stores soared with a 65% hike as compared to the same period last year, standing at US$3.3 million. The Clock Jewelry Watch And Silverware Store category also saw an encouraging 24% rise in spend.

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