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09-06-2011, 07:02 AM
OK this should be filed under "Economic News". It's about consumer spending after all. Surprisingly that people are actually spending so much more compared to last year! It's up 64% in fact. Either there are more people or the same people are spending ern, 64% more! Sad that I didn't see a 64% increase in salary though.... 
Business Times - 09 Jun 2011
Great S'pore Sale off to a flying start
MasterCard holders' spending up 64% in first weekend
By NISHA RAMCHANDANI
THE Great Singapore Sale (May 27 to July 24) appears to be off to a great start, thanks in part to stronger consumer confidence.
According to MasterCard, its Singapore-based and visiting cardholders collectively chalked up US$72.4 million in receipts during the first weekend (May 27-29), representing a 64 per cent surge in spending year-on-year.
Its Singapore-based cardholders spent a total of US$49.3 million or 66 per cent more year-on-year. Tourist spend was also up this time around, with visiting MasterCard holders spending 58 per cent more at US$23.1 million.
Meanwhile, the number of transactions made by its local cardholders in the first weekend increased by 25 per cent to 414,429, while for tourists, transactions climbed 24 per cent from last year to 103,937.
'The significant increase in spend by Singapore-based MasterCard cardholders signals the spending power of consumers in Singapore and is very much in line with the strong consumer confidence,' said Julienne Loh, MasterCard Worldwide's vice-president and country manager (Singapore).
Eating places and restaurants was the top category of spend by Singaporean cardholders, the credit card company said. While the number of transactions fell by one per cent to 49,905, actual spend at eating places and restaurants jumped 27 per cent to US$4 million.
Visitors from the United States and Malaysia remain the top two spenders again this year for the first weekend of the Great Singapore Sale, with American tourists spending more than double at US$4 million and Malaysian tourists US$2.9 million.
Tourists from Australia, Indonesia and the Philippines rounded out the top five, spending US$2.5 million, US$1.7 million and US$1.4 million respectively.
Like Singaporeans, American cardholders ended up spending the most in eating places and restaurants here by registering receipts of over US$71,000, the credit card company said. Department stores remained a top priority for tourists from Malaysia and Indonesia.
Meanwhile, its Australian cardholders spent the most here in clock, jewellery, watch and silverware stores.
Business Times - 09 Jun 2011
Great S'pore Sale off to a flying start
MasterCard holders' spending up 64% in first weekend
By NISHA RAMCHANDANI
THE Great Singapore Sale (May 27 to July 24) appears to be off to a great start, thanks in part to stronger consumer confidence.
According to MasterCard, its Singapore-based and visiting cardholders collectively chalked up US$72.4 million in receipts during the first weekend (May 27-29), representing a 64 per cent surge in spending year-on-year.
Its Singapore-based cardholders spent a total of US$49.3 million or 66 per cent more year-on-year. Tourist spend was also up this time around, with visiting MasterCard holders spending 58 per cent more at US$23.1 million.
Meanwhile, the number of transactions made by its local cardholders in the first weekend increased by 25 per cent to 414,429, while for tourists, transactions climbed 24 per cent from last year to 103,937.
'The significant increase in spend by Singapore-based MasterCard cardholders signals the spending power of consumers in Singapore and is very much in line with the strong consumer confidence,' said Julienne Loh, MasterCard Worldwide's vice-president and country manager (Singapore).
Eating places and restaurants was the top category of spend by Singaporean cardholders, the credit card company said. While the number of transactions fell by one per cent to 49,905, actual spend at eating places and restaurants jumped 27 per cent to US$4 million.
Visitors from the United States and Malaysia remain the top two spenders again this year for the first weekend of the Great Singapore Sale, with American tourists spending more than double at US$4 million and Malaysian tourists US$2.9 million.
Tourists from Australia, Indonesia and the Philippines rounded out the top five, spending US$2.5 million, US$1.7 million and US$1.4 million respectively.
Like Singaporeans, American cardholders ended up spending the most in eating places and restaurants here by registering receipts of over US$71,000, the credit card company said. Department stores remained a top priority for tourists from Malaysia and Indonesia.
Meanwhile, its Australian cardholders spent the most here in clock, jewellery, watch and silverware stores.
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