2 million MasterCard transactions made by overseas-issued MasterCard cards during GSS
TWEET: Visiting #MasterCard cardholders spent over $350 million in the first month of the #GreatSingaporeSale http://news.mstr.cd/1M7Ok83
Singapore, 15 July 2015 – Spend by visiting MasterCard cardholders saw an increase of 9.9% to the tune of S$350.6 million in the first month of the Great Singapore Sale (29 May – 28 June 2015), compared to the same period last year. In addition, the number of transactions jumped 17.8% to 2.01 million this year compared to 1.7 million in 2014.
Tourist rankings by spend remain largely unchanged with Australia, Malaysia and China retaining their top three positions respectively. United States displaced Japan this year for the fourth place, up from sixth last year. Japan now rests at fifth place, edging Indonesia out of the top five rankings for the 2015 Great Singapore Sale’s First Month results.
Similar to the previous year, local spend was almost double that of inbound tourists, with S$684.9 million spent domestically on Singapore-issued MasterCard cards. Local cardholders spent 12.7% less this year while making 5.1 million transactions in stores and online, a dip of 7.2% compared to the same period last year.
Bolstered by tourist spend, the overall spend by MasterCard cardholders at the GSS during the first month held steady at the 1 billion dollar mark with 7 million transactions.
Restaurants and Eating Places remain the top category of spend for Singapore-based MasterCard cardholders over the first month of the Sale, with cardholders settling their dining out bills over 770,000 times with their MasterCard cards and spending over S$65.1 million. The first month of the GSS coincides with the school holidays, and data revealed that one of the top spend categories was at travel agencies. People from Singapore are the most well-travelled in the Southeast Asia region, with 82% having travelled internationally in 2014 and spending an average of S$2,272 per trip according to the latest results of the MasterCard Consumer Purchasing Priorities survey.
Deborah Heng, group head and general manager, Singapore, MasterCard, said: “The 10% growth in visitor spend numbers is a great start to The Great Singapore Sale and demonstrates Singapore’s appeal and resilience as a tourist destination. From our data, dining and retail are the largest spend categories for consumers so it is important that Singapore continues to grow these sectors to position Singapore as an attractive destination with quality, diverse experiences that will draw visitors back.”
Dato’ Dr Jannie Chan, President, Singapore Retailers Association, said: “The growth in tourist receipts clearly signifies that the strong Singapore dollars did not dampen the spirit of GSS shopping. We are immensely heartened by the numbers, which show that the Great Singapore Sale remains relevant and exciting. We will continue to work closely with MasterCard to promote and boost GSS as a valued event that all shoppers can look forward to.”
Top 5 markets ranked in terms of tourist spending amounts:
|Rank||Market||Spend Amount (S$ million)||No. of Transactions (‘000)||Top Retail Spend Categories|
|1||Australia(1st last year)||39.5||198||Restaurants|
|2||Malaysia(2nd last year)||29.6||162||Electronics|
|3||China(3rd last year)||26.9||124||Speciality retail stores|
|4||United States(6th last year)||21.0||96||Restaurants|
|5||Japan(4th last year)||20.9||160||Variety retail stores|
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