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| GSS 2011 |
Organisers of the Great Singapore Sale (GSS), which kicks off on Friday, are projecting higher consumer spending this year.
They said they hope to rake in as much as S$5.5 billion in retail sales.
Last year, shoppers spent S$5.3 billion during the two-month long shopping season.
With a strong Singapore dollar, organisers of the annual shopping fiesta said there is no reason not to bag a few good deals during this sale.
Singapore Retailers Association (SRA) president Jannie Chan said: "The imported brands are almost on par in terms of pricing compared to Europe".
Dr Chan added for tourists in the region, the cost of travel to Singapore is not high.
"I think our hotels are still cheaper, so if you look at the package of shopping in Singapore, we have that advantage," she said.
The SRA said it is confident of higher sales receipts this year, due to a bigger population and fatter work bonuses.
Dr Chan said: "If you were to just look at it locally, our population has gone up to from two to four million.
"So in the job scope, a lot of expatriates and PRs are living here, and they come with great income.
"If you were to look at the bonuses, last year, we are lucky to get even the 13th month. For some of the businesses, this year, definitely they'll get the 13th month. On top of that they might get three months (bonus)".
And it's not just retailers who are casting their nets wide.
SRA's partner, MasterCard, is rolling out some digital initiatives to entice online shoppers, after a survey conducted last year showed two-thirds of its cardholders shopped online.
This includes an upgraded iPhone application, which comes with a new Shopping Buddy function.
Singapore Master Card Worldwide vice-president & country manager Julienne Loh said: "At the end of the day, people don't really shop alone.
"So we wanted to leverage the online digital platform to have this Shopping Buddy. All you have to do is invite your friends on Facebook, poll their opinions, tell them about their purchases, and have that interactive and fun way of making your GSS experience different".
They said they hope to rake in as much as S$5.5 billion in retail sales.
Last year, shoppers spent S$5.3 billion during the two-month long shopping season.
With a strong Singapore dollar, organisers of the annual shopping fiesta said there is no reason not to bag a few good deals during this sale.
Singapore Retailers Association (SRA) president Jannie Chan said: "The imported brands are almost on par in terms of pricing compared to Europe".
Dr Chan added for tourists in the region, the cost of travel to Singapore is not high.
"I think our hotels are still cheaper, so if you look at the package of shopping in Singapore, we have that advantage," she said.
The SRA said it is confident of higher sales receipts this year, due to a bigger population and fatter work bonuses.
Dr Chan said: "If you were to just look at it locally, our population has gone up to from two to four million.
"So in the job scope, a lot of expatriates and PRs are living here, and they come with great income.
"If you were to look at the bonuses, last year, we are lucky to get even the 13th month. For some of the businesses, this year, definitely they'll get the 13th month. On top of that they might get three months (bonus)".
And it's not just retailers who are casting their nets wide.
SRA's partner, MasterCard, is rolling out some digital initiatives to entice online shoppers, after a survey conducted last year showed two-thirds of its cardholders shopped online.
This includes an upgraded iPhone application, which comes with a new Shopping Buddy function.
Singapore Master Card Worldwide vice-president & country manager Julienne Loh said: "At the end of the day, people don't really shop alone.
"So we wanted to leverage the online digital platform to have this Shopping Buddy. All you have to do is invite your friends on Facebook, poll their opinions, tell them about their purchases, and have that interactive and fun way of making your GSS experience different".
