Tuesday, Sep 23, 2014Tuesday, Sep 23, 2014
Singapore
 

Call for a Greater Singapore Sale to stay ahead of competition

Experts: It must be bigger, better to stay ahead of Asian competition

Published on Aug 20, 2014 7:08 AM
 
-- ST PHOTO: KEVIN LIM

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$1.6 billion (S$2 billion) during this year's event, up 11.2 per cent from a year ago. There were 13.5 million transactions, a 12.5 per cent 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.

 
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Background story

Over $2b

Spent by MasterCard cardholders this year, up 11.2% from last year

13.5m

Transactions this year, up 12.5%

28.6%

Proportion of the total spending that was done online

$1.5b

Amount spent by Singapore-based cardholders, up 12.8%

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