Spending Statistics from Great Singapore Sale 2010

Both local and tourist MasterCard cardholders spent US$454.7 million (Sin$633.8 million) over the first month of the GSS (28 May - 26 June 2010), an increase of 23% versus the same period last year (29 May - 27 June 2009). Overall, the number of transactions rose 17% to 3,698,131 this year.

Tourist spending went up 21% compared to the same period last year, with visiting cardholders buying US$158.1 million (Sin$220.4 million) worth of goods and services. Cardholders from the United States, Malaysia, Australia, Indonesia and Japan continued their momentum as the biggest spenders from the first weekend of GSS.

Spend by Singapore-based MasterCard cardholders went up by almost 25% to US$296.6 million (Sin$413.4 million) and transactions increased by 15% to 2,838,077. Overall, the busiest shopping day for the first month was 11 June (Friday), in which MasterCard cardholders chalked up US$17.3 million (Sin$24.1 million) in shopping deals and privileges.

Julienne Loh, vice president and Country Manager, Singapore, MasterCard Worldwide said, “The 23% increase in spend in the first month of GSS echoes the findings from the recent MasterCard Worldwide Index of Consumer Spending Capability for Singapore in 2010. Spend by both locals and tourists continue to reinforce GSS’s position as an important fixture on Singapore’s retail calendar, as well as Singapore’s attraction as a premier shopping and leisure destination. The healthy response by MasterCard cardholders so far has also positively impacted needy children in Singapore through our purchase with purpose initiative.”

As the “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. In the last month, GSS has raised Sin$18,490 (US$13,265) for needy children in Singapore.

Other key highlights of the first month include:

- Mirroring the trend observed during the first weekend of the GSS, the top three spend categories for Singapore-based cardholders over the first month of the Sale were Eating Places and Restaurants, Grocery Stores and Supermarkets and Department Stores.

 Dining continued to be the biggest draw for Singapore-based cardholders. Local consumers spent more than US$25 million (Sin$34.8 million) at eating places and restaurants in the first month of the Sale, up 19% from last year. This is more than double the amount compared to the next two categories, Grocery Stores and Supermarkets and Department Stores at US$12.8 million (Sin$17.8 million) and US$10.9 million (Sin$15.2 million).

- US cardholders emerged as top tourist shoppers during the first month of the Sale, spending US$22 million (Sin$30.7 million). However, tourists from the region in Malaysia and Indonesia registered an exponential increase (58% and 81% respectively) in expenditure compared to the same period last year. Malaysian cardholders have surpassed the Australians and came in as the second largest group of spenders. Indonesia moved up two spots to fourth this year. Japan retained its fifth place with a 29% increase in expenditure compared to last year.

- Cardholders from Malaysia and Indonesia preferred shopping at Department Stores while the Australians preferred shopping at Duty Free Stores. The American cardholders spent the most at Eating Places and Restaurants. Game Toy Hobby Shops were favorites with cardholders from Japan.

- Dining continued to be a key part of the Sale experience for both local and tourist cardholders with significant increase of 20% from last year’s expenditure to US$29 million (Sin$40.4 million). Shoppers continued to patronize department stores with spend in that category up 5% to US$15.5 million (Sin$21.6 million). Spend on Clocks, Jewelry, Watch and Silverware Stores also increased by 17% compared to last year.

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