FOR Miss Stacey Ong, 23, the Great Singapore Sale (GSS) from May 28 to July 25 was a bonanza - she spent $800 in total to spruce up her wardrobe.
Wooed by retail outlets like Mango and G2000 offering discounts of up to 70 per cent, the human-resource executive said she exceeded her usual shopping expenditure of $300 a month.
But she is happy. "Last year, the economy wasn't doing very well. There was a need to hold back on spending. I'm more willing to spend this year," she explained.
MasterCard cardholders, comprising Singaporeans and visitors, who shopped at the GSS spent 28 per cent more this year than at last year's GSS.
Sales of $1.21 billion were chalked up over the two-month period, according to MasterCard.
Singapore residents spent $784.5 million, while tourists spent $425.1 million. Spending by Singapore residents rose by 29 per cent, with the greatest increases in spending seen at grocery stores and supermarkets.
Visiting MasterCard cardholders also increased their expenditure by 26 per cent, compared to the same period last year.
Overall, across all categories of spending, dining saw the biggest hike, with a rise of 23 per cent compared to the same period last year.
The total number of Master- Card transactions during the GSS period rose by 18 per cent to 7,197,885 transactions.
However, "the increase in GSS spending this year is definitely across the board, not just for MasterCard holders but (across) all forms of payment," said Miss Sarah Lim, senior lecturer in retail and shopping- mall management at Singapore Polytechnic.
"Reasons for this include an increase in tourist arrivals and a rise in the number of shopping malls."
Retailers my paper spoke to confirmed that they enjoyed brisk sales.
At Tangs, for example, GSS sales grew by 8 to 10 per cent as compared to last year.
Miss Sherri Lim, vice-president of human resource and store operations, said: "With the pickup in the economy, shoppers were more willing to spend.
"We definitely saw an increase in tourist shoppers and this may also be attributed to more tourist destinations, like the integrated resort and Universal Studios."
Muji Singapore also said it saw an increase in sales.
Miss Jasmine Sng, its general manager, said: "Although we did not have more sales items as compared to last year, sales have improved... Consumers now have stronger purchasing power."
MasterCard reported that this year's top overseas spenders in the GSS came from the United States, Malaysia, Australia, Indonesia and Japan.
Category |
No. of transactions |
Percentage change vs. corresponding period in 2009 |
Aggregate transaction amount |
Percentage change vs. corresponding period in 2009 |
Eating places and restaurants |
766,247 |
11% |
S$65.7mil |
22% |
Grocery stores and supermarkets |
395,304 |
24% |
S$33.3mil |
29% |
Department stores |
246,465 |
-3% |
S$27.2mi |
9% |
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