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