MasterCard Data shows Strong Support for Great Singapore Sale

Spending in the Great Singapore Sale by Singapore MasterCard cardholders is up 33% in the first month of the Great Singapore Sale (23 May to 21 June 2008) as compared to the same period last year (25 May to 22 June 2007). Singaporeans spent a total of US$238 million, with the number of transactions increasing 9% to 2.2 million.

Tourists are also making the best use of the privileges and deals available, with spend going up by 17% from US$107.8 million during the first month of GSS 2007 to US$126.5 million this year.

Total spending has increased 27% from last year to US$364.6 million. The busiest shopping day was 13 June 2008 (Friday), in which MasterCard cardholders chalked up US$14.1 million in various deals.

T.V. Seshadri, vice president and senior country manager, Singapore, MasterCard Worldwide said, “Our latest MasterCard Worldwide Index of Consumer Confidence shows that consumers in Singapore are the most optimistic towards the second half of 2008, compared to consumers in the rest of Asia Pacific. We can see this confidence in their strong support of the Great Singapore Sale 2008, with spend during the first four weeks of GSS 2008 showing healthy growth compared to last year. Tourists are also making the best use of the privileges available, with spend by cardholders from key feeder markets increasing from last year.”

The top categories of spend for Singaporeans are consistent with last year, with dining a key part of the Singaporean shopping experience. 86% of MasterCard cardholders’ spend on dining came from Singaporeans.

Apart from dining, Singaporean cardholders also spent on department stores and on clocks, jewellery and silverware. Singaporeans have also been pampering themselves this GSS – they registered high increases in their spending on massage services (39%) and health and beauty spas (32%).

In terms of tourist spend, MasterCard cardholders from Australia emerged as the top spenders in the first month of the Sale, chalking up US$ 16.3 million in spend. This was a significant 75% increase from the same period last year. Cardholders from the United States were the next biggest supporters of the Sale, with a total spend of US$14.8 million. Cardholders from the United Kingdom jumped from being the fifth largest spenders last year to third this year, with an expenditure of US$12.5 million.

Cardholders from Malaysia and Japan slipped to fourth and fifth position respectively in terms of being the biggest spenders, despite registering significant increases in spend (34% and 13% respectively).

Australians continued to splurge in Duty Free Stores, while cardholders from the United States enjoyed dining alongside shopping. Cardholders from the United Kingdom maintained their love for clocks, jewellery and silverware, while the Japanese, interestingly, spent most on books, periodicals and newspapers.

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