With 20 years under its belt, the Great Singapore Sale (GSS) is truly an iconic event on the Singapore retail calendar for both locals and visitors alike. MasterCard has been the Official Card for over a decade now and this collaboration with the Singapore Retailers’ Association (the organiser of the Sale) continues to grow from strength to strength.
MasterCard cardholders spent US$1.5 billion during the 2013 GSS, the highest ever in the history of MasterCard as the Official Card of the Sale, with increased spending in both online and offline channels. Along with a record-breaking 12 million MasterCard transactions recorded within the 8 week-long Sale, it is clear now more than ever, that more people in Singapore are going cashless – even for smaller ticket purchases.
There is no doubt that retail remains relevant to MasterCard – the retail industry itself is a huge engine of growth for the Singapore economy, generating over $32 billion in operating receipts last year in 2012.
The big question is – how can MasterCard grow from its association with the Sale event to truly partnering the retail industry to drive growth? It starts with developing preference for our brand with the retail industry professionals, and to do this, MasterCard is supporting the retail industry in the following: (i) professionalizing the workforce with scholarships, (ii) sharing knowledge leadership through retail industry conferences, and (iii) enhancing the shopping experience, with technology that supports more efficient retail operations, such as MasterCard PayPass.
Share your thoughts and ideas on how we can further work towards advancing the retail industry in Singapore by posting a comment below! We’d love to hear from you.