SINGAPORE - MasterCard holders spent US$881.5 million ($1.1 billion) in the first month of the Great Singapore Sale from May 30 to June 29.
This is 10.5 per cent more than during last year's sale, MasterCard said on Sunday, adding that the number of transactions also jumped by 13.1 per cent year-on-year to 7.2 million.
For Singapore-based cardholders, spending increased by 13 per cent to US$626.6 million ($777.4 million) during the recent sale with the number of transactions increasing by 11.8 per cent to 4.9 million compared with last year.
The annual sales also encouraged more tourist spending which hit US$254.9 million ($316.2 million) in the fist month, 5 per more than last year. Most of the were from Australia, Malaysia, China, Japan and Indonesia.
Ms Julienne Loh, MasterCard's general manager here described the increased spending as a "great start to the sale... despite a climate of uncertainty".
President of the Singapore Retailers Association, Dr Jannie Chan, said the growing numbers is "testament" that GSS is a "key retail event" that appeals to both local and international shoppers.