Singapore – The Great Singapore Sale (GSS) 2010 concluded with a 28% increase in total spend by both local and tourist MasterCard cardholders.

The total spend over the two-month period of the GSS (28 May - 25 July 2010) was US$893.2 million (S$1.21 billion), as compared to the US$697.7 million (S$944.8 million) spent in the same period last year (29 May – 26 July 2009). The total number of transactions rose 18% to 7,197,885 this year.

Visiting MasterCard cardholders spent US$313.9 million (S$425.1 million) with 1,704,538 transactions made during the Sale. Both the total spend and number of transactions went up by 26% as compared to the same period last year. Cardholders from the US, Malaysia, Australia, Indonesia and Japan continued their spend momentum as the top spenders for GSS 2010 since the first weekend.

Spend by Singaporean MasterCard cardholders went up 29% to US$579.3 million (S$784.5 million) with a 16% increase in the number of transactions to 5,493,347. This indicates that on average, local shoppers have increased the amount spent per transaction during the Sale as compared to last year. This trend is in contrast to last year’s Sale, which highlighted that local shoppers made a larger number of small-ticket item purchases.

Making a difference to this year’s GSS is MasterCard’s Purchase with Purpose TM initiative, the platform for MasterCard’s social responsibility and citizenship efforts in the APMEA region. Purchase with Purpose enables cardholders to play a part in giving back to the community when they use their MasterCard cards. For GSS 2010, MasterCard committed to contributing half a cent to Singapore Children’s Society with every transaction made with a MasterCard card during the Sale. MasterCard will round up its contribution to a whole figure of S$40,000 (US$29,538) to Singapore Children’s Society.

“The encouraging figures from MasterCard, the official card for the GSS, have helped provide insights to the post-crisis retail scene in Singapore. Savvy and upbeat consumers have contributed to the Sale by taking advantage of the many attractive privileges and promotions put together by the industry. Through this, the Sale has continued to appeal to both tourists and Singaporean consumers. The success of the GSS 2010 is evident and we hope that next year's Sale will continue to attract shoppers from all over the world,” said Lau Chuen Wei, Executive Director, Singapore Retailers Association.

"It is heartening to see the increase in tourist retail spending during the GSS. This positive outlook is underscored by our rising tourist arrivals which in July, crossed the milestone figure of 1million visitors in a single month. We are delighted that Singapore's retail scene have benefitted from the spike in our arrivals. The success of this year’s Sale also reinforces our confidence in the GSS being a highlight in our events calendar while adding to the attractiveness of Singapore as a shopping destination for tourists.” said Andrew Phua, Director of Precinct Development at the Singapore Tourism Board (STB).

“This year’s GSS shows the rebounding consumer confidence contributing to the buoyant retail scene in Singapore. Retailers have not taken the return of consumers’ spending power for granted though, and we have worked with them to provide ever better retail perks for both local and visiting shoppers. MasterCard’s Purchase with Purpose initiative this year also allowed MasterCard cardholders to contribute to a worthy cause with every swipe of their card during the Sale. It’s a win-win situation for all this shopping season,” said Julienne Loh, vice president and Country Manager, Singapore, MasterCard Worldwide.

The top three spend categories for Singaporean cardholders were Eating Places and Restaurants, Grocery Stores and Supermarkets, and Department Stores.

Cautious yet a little more confident consumers have increased spending at Eating Places and Restaurants by 22%, Grocery Stores and Supermarkets by 29% and Department Stores by 9%.

Outside of the top three spend categories, Electronics and Clock, Jewellery, Watch and Silverware Stores proved to be top draws for Singaporean cardholders as well. Local consumers bought US$13.7 million (S$18.6 million) and US$19.2 million (S$26 million) respectively worth of goods during the Sale which translated into a corresponding 29% and 22 % increase from the previous year during the full GSS period.

Top categories of spend by Singaporeans (excluding spend on accommodation and airfare):