Home > News > Regional
Thursday August 21, 2014 MYT 12:00:00 AM
Thursday August 21, 2014 MYT 7:05:50 AM
Big spenders: The growth in spending shows that Singapore remains an attractive shopping destination. - The Straits Times / Asia News Network
The Great Singapore Sale (GSS) this year has done well with double-digit growth in spending, but retail experts and shoppers say that the annual sale has to be bigger, broader and even more value-for-money to stay ahead of competition from other cities in the region.
According to figures released by MasterCard yesterday, its cardholders spent over US$1.6bil (RM5.1bil) during this year’s event, up 11.2% from a year ago. There were 13.5 million transactions, a 12.5% increase. More than a quarter of the spending during the eight-week sale, which ran from May 30 to July 27, was done online.
Singapore Retailers Association (SRA) president Jannie Chan said this pick-up in spending is “encouraging” for the industry after a relatively muted start to the year.
“We will continue to encourage our retailers to improve their product and service offerings to make it more exciting for consumers,” she said in a statement, without elaborating.
Tourists continued to splash out during the sale, with MasterCard holders from China ringing up US$40.8mil (RM129.2mil), or a 29.9% jump from last year – the biggest increase among the top five countries in terms of spending.
The amount spent propelled China to the third spot on the rankings – from No.5 last year – overtaking Japan (No.4) and Indonesia (No.5). Spending from Indonesian cardholders fell 12.6% this year.
Australia and Malaysia took the top and second positions respectively, the same as last year.
Chinese and Japanese visitors spent the most at speciality retail stores, while Malaysians went for telecommunications equipment. Australians and Indonesians preferred to shop at department stores.
Meanwhile, Singapore-based cardholders chalked up receipts of US$1.2bil (RM3.8bil), an increase of 12.8% from a year ago.
MasterCard Singapore general manager Julienne Loh said the growth in spending showed that Singapore remains an attractive shopping destination for visitors and locals alike, despite global competition.
Singapore Polytechnic senior retail lecturer Sarah Lim, however, said the GSS may need to do more, in the light of growing competition from places such as Bangkok, Hong Kong and Malaysia.
Organiser SRA could get more retailers to participate in the sale and generate greater publicity outside of Orchard Road, said Ms Lim. The range of participants could also be expanded to include more food and beverage outlets and service providers such as hair salons.
“Customers are sales-fatigued. They want better discounts,” said Ms Lim, adding that 10% or 20% sales are no longer attractive.
“Offer a whole package to shoppers; bundle discounts at restaurants and salons with apparel shops – so when people go to a mall, they know what discounts they can get.”
Account manager Loo Sook Yong, 37, who has two sons, said she hopes that discounts for enrichment classes and courses would be included in the GSS in the future.
“The current GSS focuses more on goods than services. It would be good if enrichment centres offer discounts for new enrollees or for those who sign up for a year,” she said. — The Straits Times / Asia News Network
Tags / Keywords:
Another disaster waiting for Malaysia in UAE WC qualifier?
IMF’s Lagarde says global economic growth may be weaker than expected
The heat is on for Dollah in UAE World Cup qualifier
Cooling dishes to suit Malaysian palate
Amiridzwan’s timely return to shore up defence in WC qualifier
Cameron backs down on government rules for EU referendum - BBC
Another 57 Clinton email threads contain foreign governments' information
Eighteen Turkish workers kidnapped in Baghdad, firm says
Crackdown fuels migration crisis within Africa
Guatemalan President Perez will not flee over graft scandal - lawyer
TalentCorp turns Malaysia’s brain drain to brain gain
Google changes logo to better suit mobile devices
Plenty of colour – besides yellow – at Bersih 4
Serena survives early test to keep Grand Slam bid alive
Copyright © 1995-2015 Star Media Group Berhad (ROC 10894D)(Formerly known as Star Publications (Malaysia) Berhad)