09 Jun '11, 5am

Singapore-based cardholders spent more than S$60m in the first weekend of the GSS, says Mastercard

SINGAPORE - In a sign of better economic times, Singaporeans are spending more during the Great Singapore Sale (GSS). Figures from MasterCard showed that its Singapore-based cardholders spent close to US$50 million (S$61.5 million) during the first weekend of the GSS (May 27-29) - a jump of 66 per cent compared to the same period last year. The number of transactions also rose 25 per cent from last year to about 415,000. Tourists were also snapping up deals. Visiting MasterCard cardholders spent close to US$25 million over the GSS' first weekend, an increase of almost 60 per cent from last year. MasterCard Worldwide country manager for Singapore, Ms Julienne Loh, said the significant increase in spending by Singapore-based cardholders was very much in line with the strong consumer confidence revealed in the latest MasterCard Worldwide Index of Consumer Confidence survey. M...

Full article: http://www.todayonline.com/Hotnews/EDC110609-0000358/Loca...

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