According to credit card figures released by MasterCard on Tuesday, the first GSS weekend saw Singapore cardholders chalking up bills of US$26.3 million (S$38.3 million) - an increase of seven per cent from the same period last year.

Locals were also swiping their credit cards more furiously, with the number of transactions they made in the first weekend rising 15 per cent from last year to 283,703 this year.

Describing Singaporeans as 'savvy' shoppers, Ms Julienne Loh, vice president and Country Manager, Singapore, MasterCard Worldwide said: 'The fact that they have spent more means they have found the deep discounts and exclusive privileges offered by retailers and MasterCard to be very attractive.'

Consistent with the previous year's spending pattern, dining and shopping remain the top two categories in which Singaporean cardholders splurge on. But locals are dining out less this season, with restaurants and eating places raking in six per cent less than last year.

In sharp contrast, spending at grocery stores and supermarkets has risen 56 per cent, making this a top spending category this year as Singaporeans become more conscious and choose to eat more home-cooked meals.

Overall, both Singaporean and tourist MasterCard cardholders spent a total of US$37.5 million over the first weekend, a slight increase of almost one per cent compared to the US$37.2 million spent last year. The total number of transactions also saw a 13 per cent increase from last year, reaching 350,929.

Foreign tourists also jumped on the GSS bandwagon, taking advantage of the special privileges and deals available at the Sale. They spent mainly on electronics, jewellery, silverware as well as health and beauty treatments, with Australians continuing to be the biggest spenders, followed closely by the Americans.

Visiting MasterCard cardholders in Singapore made a total of 67,226 transactions and spent US$11.2 million over the first weekend of the GSS. This spending figure, however, was down 12 per cent compared to the same period last year, in line with declining visitor arrivals.

Retailers are generally happy with this year's sales returns.

'The Great Singapore Sale is the annual event which retailers look forward to, outside of the Christmas and New Year season, and hope to see sales moving up,' Mrs Sng Noi May, Chairman of the Orchard Road Business Association (ORBA) told straitstimes.com on Tuesday.

'The discounts offered now are more attractive than in previous years, and with H1N1 flu hanging overhead in so many countries, people have said they would rather stay in Singapore and this may have contributed to the increase spending,' she added.

Ms Loh was similarly pleased with the good response.

'It is encouraging to see that the hard work put in by the GSS committee, including the Singapore Retailers Association, Singapore Tourism Board, Singapore Press Holdings and MasterCard, has paid off in making the Sale compelling to shoppers,' she said.