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Shoppers likely to spend more this Christmas compared with last year: UOB survey

Published on Dec 18, 2013 3:53 PM
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Shoppers walk past the boutique of Emporio Armani at Mandarin Gallery in Orchard Road on July 17, 2013. Singaporeans are preparing to paint the town red this Christmas season, with plans to spend more on gifts this year than last year, according to a survey by UOB. -- ST FILE PHOTO: DIOS VINCOY JR

Singaporeans are preparing to paint the town red this Christmas season, with plans to spend more on gifts this year than last year, according to a survey by UOB.

The poll of 500 people found that Singapore shoppers plan to splash out an average of $893 on Christmas gifts this year, 54 per cent more than last year.

Much of that festive cheer is due to a feel-good factor: eight in 10 respondents said they thought the economy would stay the same or improve next year.

Such positive sentiment means more are looking to buy themselves a present this year. Half the respondents said they would reward themselves with a gift, compared with just 10 per cent last year.

 
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