The Great Singapore Sale (GSS) 2010 concluded
with a 28% increase in total spend by both local and tourist
The total spend over the two-month period of the
GSS (28 May - 25 July 2010) was US$893.2 million (Sin$1.21 billion),
as compared to the US$697.7 million (Sin$944.8 million) spent in the
same period last year (29 May – 26 July 2009). The total number of
transactions rose 18% to 7,197,885 this year.
Visiting MasterCard cardholders spent US$313.9
million (Sin$425.1 million) with 1,704,538 transactions made during
the Sale. Both the total spend and number of transactions went up
by 26% as compared to the same period last year.
the US, Malaysia, Australia, Indonesia and Japan continued their
spend momentum as the top spenders for GSS 2010 since the first
Spend by Singaporean MasterCard cardholders went up
29% to US$579.3 million (Sin$784.5 million) with a 16% increase in
the number of transactions to 5,493,347. This indicates that on
average, local shoppers have increased the amount spent per
transaction during the Sale as compared to last year. This trend
is in contrast to last year’s Sale, which highlighted that local
shoppers made a larger number of small-ticket item purchases.
Making a difference to this year’s GSS is MasterCard’s Purchase
with Purpose initiative, the platform for MasterCard’s social responsibility and citizenship efforts in the APMEA region.
Purchase with Purpose enables cardholders to play a part in giving
back to the community when they use their MasterCard cards. For
GSS 2010, MasterCard committed to contributing half a cent to
Singapore Children’s Society with every transaction made with a
MasterCard card during the Sale. MasterCard will round up its
contribution to a whole figure of Sin$40,000 (US$29,538) to
Singapore Children’s Society.
Andrew Phua, Director of Precinct Development at
the Singapore Tourism Board (STB), said, “It is
heartening to see the increase in tourist retail spending during
the GSS. This positive outlook is underscored by our rising
tourist arrivals which in July, crossed the milestone figure of
1 million visitors in a single month. We are delighted that
Singapore's retail scene have benefitted from the spike in our
arrivals. The success of this year’s Sale also reinforces our
confidence in the GSS being a highlight in our events calendar
while adding to the attractiveness of Singapore as a shopping
destination for tourists.”
Key highlights of the full sale
- The top three spend categories for Singaporean
cardholders were Eating Places and Restaurants, Grocery Stores and
Supermarkets, and Department Stores.
- Cautious yet a little more
confident consumers have increased spending at Eating Places and
Restaurants by 22%, Grocery Stores and Supermarkets by 29% and
Department Stores by 9%.
- Outside of the top three spend
categories, Electronics and Clock, Jewellery, Watch and Silverware
Stores proved to be top draws for Singaporean cardholders as well.
Local consumers bought US$13.7 million (Sin$18.6 million) and
US$19.2 million (Sin$26 million) respectively worth of goods during
the Sale which translated into a corresponding 29% and 22 %
increase from the previous year during the full GSS period.
Indonesian and Australian cardholders recorded a considerable
increase in spend (45% and 30% respectively) compared to the same period last year. US cardholders remained the top tourist shoppers
during the Sale, spending US$43.2 million (Sin$58.5 million), while Malaysian cardholders came in second, spending
(Sin$45.4 million). Shoppers from Australia were the next biggest spenders, registering
US$30.3 million (Sin$41 million) on their
MasterCard cards during the Sale. Indonesian cardholders spent a
total of US$ 29.8 million (Sin$40.1 million) taking fourth place and
the Japanese fill the last spot in the Top 5 markets in terms of
tourist spending with US$25.9 million (Sin$35.1 million).
Americans spent the most on Eating Places Restaurants while
Department Stores scored with the Malaysian and Indonesian
tourists. Duty Free Stores were the choice for Australian shoppers
and while tourists from Japan preferred to indulge in Health and
Overall, dining continues to dominate the top
spend category for both local and tourist cardholders with a total
spend of US$56.6 million (Sin$76.6 million), an increase of 23% as
compared to the corresponding period last year. Clock, Jewellery,
Watch and Silverware Stores were draws for shoppers this year as
spend in this category went up 15% to US$28.8 million (Sin$39
million), taking the second spot in the top spend categories.
Department Stores remain a consistent draw for shoppers taking
third place with US$28.8 million (Sin$39 million), an 8% increase
from last year.
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