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MasterCard holders spend $1b at GSS in June

BIG SPEND: All the items bought by Singapore-based MasterCard holders in the first month of the GSS: US$626.6 million. A "great start" to the sale: Priceless.


    Jul 14, 2014

    MasterCard holders spend $1b at GSS in June

    MASTERCARD holders spent US$881.5 million (S$1.1 billion) in the first month of the Great Singapore Sale (GSS) from May 30 to June 29.

    This is 10.5 per cent more than during last year's sale, MasterCard said yesterday, adding that the number of transactions also jumped by 13.1 per cent year-on-year to 7.2 million.

    For Singapore-based card holders, spending increased by 13 per cent to US$626.6 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 in the first month, 5 per cent more than last year. Most of the tourist spending was 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".

    Dr Jannie Chan, president of the Singapore Retailers Association, said the growing numbers are "testament" that the GSS is a "key retail event" that appeals to both local and international shoppers.