Sales for the first month (May 23 to June 21) of the Great Singapore Sale appear to be strong, with Singaporean MasterCard holders spending some US$238 million, a third more than the previous year's US$179.2 million.
Tourists were also big spenders, chalking up about US$126.5 million - 17 per cent more than last year - using MasterCard credit cards. Total spending by MasterCard holders was up 27 per cent year-on-year at US$364.6 million.
Ironically, Friday, June 13, proved to be the busiest day of the month, with US$14.1 million or 4 per cent of total sales coming in on that day.
Overall, dining was the top category of expenditure last year and this year was no exception. Altogether, US$27.8 million was spent at restaurants and eating places, 38 per cent more than previously.
In fact, Singaporeans accounted for 86 per cent of MasterCard spending on dining. Massage services as well as health and beauty spas also saw increased business - 39 and 32 per cent respectively - as Singaporeans chose to pamper themselves.
Stores selling clocks, jewellery, watches and silverware were another popular choice, registering a 30 per cent jump in sales to US$15.1 million, while department stores saw a 16 per cent increase to US$14.4 million.
'Tourists are also making the best use of the privileges available, with spend by cardholders from key feeder markets increasing from last year,' said T V Seshadri, vice-president and senior country manager of MasterCard Worldwide (Singapore).
Among tourists, Australians were the biggest spenders - splurging especially at duty-free stores - notching a total of US$16.3 million, up a staggering 75 per cent from last year.
Americans dropped to second place, with spend dipping 6 per cent to US$14.8 million.
The United Kingdom leapfrogged Malaysia and Japan to come in third by spending US$12.5 million, 46 per cent more than last year.
This article was first published in The Business Times on 9 July 2008.
