A recent survey has found that they are still keen to hunt one down amid the economic downturn.

But with an eye to the tough times, they are also searching for ways to supplement their incomes in the year ahead.

Media communications agency Universal McCann surveyed 400 Singaporeans aged 20 to 50 years old last month, and found that nearly two-thirds, in the next six months, will seek out discounts and sales promotions that allow them to save more money while doing their shopping.

More than half of the respondents also said they will be looking for ways to earn extra income, while cutting down on entertainment expenses at the same time.

Such scale-backs in discretionary spending perhaps hinge on another survey finding: that 60 per cent believe prices of household items such as food will be a challenge in the next six months.

'Brand marketers and retailers are most likely going to feel the squeeze - especially this coming year-end and Chinese New Year shopping season,' said Mr Gaurav Bhasin, chief executive of Universal McCann in Singapore.

'Nevertheless, brands and retailers ought to consider the perceptions of the consumers,' he added.

Retailers do seem to be marking down prices even earlier than usual this year - and for greater amounts - in a bid to move merchandise off the shelves in what they view as a 'soft market'.

Dr Jannie Tay, president of the Singapore Retailers Association (SRA), said some stores have advanced end-of-season sales by as much as six weeks.

American high-street label Club Monaco, which opened its first store here only in September, is already in the thick of a 30 per cent markdown on selected items.

Luxury fashion group Club21 is launching its end-of-season sale, offering at least 30 per cent off its posh pieces, this weekend - about a week earlier than usual, said some market observers.

Mr Douglas Benjamin, chief executive of FJ Benjamin Singapore, which distributes fashion labels from Gap and Guess to Celine here, said the group's brands would launch their end-of-season sales 'within the next two weeks', and that the dates were 'a week or so earlier' than usual.

'A lot of brands are also going on sale earlier. It works out for everybody if more stores are on sale at the same time because then people have a reason to come down and shop,' he said.

RSH, which runs Zara, Mango and Massimo Dutti here, says that, although sales at its stores 'have not dropped drastically' in the last few months, it will bring forward festive sales by a few weeks.

Among the department stores, Robinsons had a 20 per cent promotion last weekend, although Tangs and Metro said they had no such plans until the annual post-Christmas sale season.

Dr Tay says Singaporeans are spending at these sales, adding that SRA is working closely with the Singapore Tourism Board to 'bring more value to the customers, such as offering gifts with purchases'.

Department store Metro is counting on the same strategy. Its managing director, Mrs Wong Sioe Hong, told The Straits Times earlier this week it was working harder to give customers value for money in the form of more in-store promotions to ride out the challenging retail climate.

An RSH spokesman said: 'As a market, Singapore is predominantly driven by mid-price shoppers. We are renewing our efforts to offer solid everyday value and are focused on promotional activities, some of which will be brought forward for the benefit of our customers.'

As for what other incentives may be in store for bargain-hunters this season, Dr Tay said: 'We want to apply the Great Singapore Sale formula to the post-Christmas sales. We are also suggesting a system where retailers could give 5 per cent of the goods and services tax back to the consumer as a rebate voucher, so that they will come back to stores and spend. This lets cash flow back into the system.'

michtay@sph.com.sg