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http://www.themalaymailonline.com/m...-s1.1b-in-first-month-of-great-singapore-sale
SINGAPORE, July 14 — MasterCard holders chalked up US$881.5 million (RM2.8 billion) in spending in the first month of the Great Singapore Sale (GSS), which began on May 30.
This is up 10.5 per cent from the same time last year. Spending from tourists during the first month of the sale grew 5 per cent, a bigger increase than the 1.6 per cent last year. In all, they spent US$254.9 million, with China taking the United States’ place this year in the top five markets by tourist spending. Chinese tourists ranked third among top spenders, chalking up US$20.5 million in spending, mostly at luxury-brand stores.
Australian tourists were the top spenders at US$32.5 million, with the top retail spend category being restaurants and bars. Malaysian tourists were second, Japan was in fourth place and Indonesia was fifth, down two spots from last year.
Singapore-based MasterCard holders, meanwhile, spent US$626.6 million, up 13 per cent. Restaurants and bars remain the top category of spending for this group, with cardholders spending more than US$90 million on dining out.
In a statement, MasterCard also noted that the total number of transactions rose 13.1 per cent to 7.2 million this year, compared with the same period last year.
Dr Jannie Chan, president of the Singapore Retailers Association, said of the figures: “Retailers in Singapore have experienced the buzz and excitement GSS brings, and the encouraging growth numbers are testament to that. This also confirms (the GSS) as a valued platform and key retail event that not only Singaporeans, but also visitors from out of town, look forward to, to get the best deals in Singapore.” — Today
- See more at: http://www.themalaymailonline.com/m...-of-great-singapore-sale#sthash.U9yR2azc.dpuf
SINGAPORE, July 14 — MasterCard holders chalked up US$881.5 million (RM2.8 billion) in spending in the first month of the Great Singapore Sale (GSS), which began on May 30.
This is up 10.5 per cent from the same time last year. Spending from tourists during the first month of the sale grew 5 per cent, a bigger increase than the 1.6 per cent last year. In all, they spent US$254.9 million, with China taking the United States’ place this year in the top five markets by tourist spending. Chinese tourists ranked third among top spenders, chalking up US$20.5 million in spending, mostly at luxury-brand stores.
Australian tourists were the top spenders at US$32.5 million, with the top retail spend category being restaurants and bars. Malaysian tourists were second, Japan was in fourth place and Indonesia was fifth, down two spots from last year.
Singapore-based MasterCard holders, meanwhile, spent US$626.6 million, up 13 per cent. Restaurants and bars remain the top category of spending for this group, with cardholders spending more than US$90 million on dining out.
In a statement, MasterCard also noted that the total number of transactions rose 13.1 per cent to 7.2 million this year, compared with the same period last year.
Dr Jannie Chan, president of the Singapore Retailers Association, said of the figures: “Retailers in Singapore have experienced the buzz and excitement GSS brings, and the encouraging growth numbers are testament to that. This also confirms (the GSS) as a valued platform and key retail event that not only Singaporeans, but also visitors from out of town, look forward to, to get the best deals in Singapore.” — Today
- See more at: http://www.themalaymailonline.com/m...-of-great-singapore-sale#sthash.U9yR2azc.dpuf
