MasterCard holders ring up $2b at Great Singapore Sale
Local shoppers' spending up, but tourists spent 4.8% less
Local shoppers splashed out more at this year's Great Singapore Sale (GSS), making it more lucrative than the last one. But visitors' spending took a tumble, according to MasterCard.
It revealed yesterday that its cardholders spent nearly US$1.5 billion (S$1.9 billion) during the May 25 to July 28 sale - a rise of 5.7 per cent from last year. There were also 12 million transactions this year, a 12.1 per cent increase. A quarter of the total spending was made online this time.
Singapore-based cardholders, who flocked to retail outlets to snap up discounts despite the haze, fuelled the spending rise by shelling out around $1.03 billion, over 11 per cent higher than last year.
Most of their purchases were at restaurants and fast-food eateries, as well as supermarkets.