UnionPay data proves Singapore Golden Week growth

Spending by UnionPay cardholders during Singapore Golden Week grew 40 per cent, suggesting solid growth for the event’s second year.

Singapore Golden Week is designed to bring fresh new experiences to local consumers and tourists as part of Singapore Retailers Association’s (SRA) efforts to inject vibrancy into the local retail scene. This year, Singapore Golden Week was held from September 29 to October 15 and presented a wider range of privileges – offers at more than 300 participating merchant outlets island wide, up from the 200 last year. Shoppers also enjoyed better golden rewards – in the form of shopping e-coupons redeemable on SRA’s GoSpree mobile app worth a total of S$25,000, up from $10,000 last year; as well as golden experiences – with over 1100 complimentary golden taxi rides made available for the public over the three weekends.

“We are happy to see the expansion of Singapore Golden Week‘s appeal to both locals and tourists this year,” said Rose Tong, executive director of the SRA.

“During the week, SRA’s GoSpree mobile app gained more than 1500 new members, bringing the total number of GoSpree members to more than 33,000 to date. We also saw a 15 per cent increase in downloads of the GoSpree app from Chinese tourists, with over 1300 e-coupons redeemed. As we continue to improve on the event, we hope to see more locals and tourists be part of the Singapore Golden Week festivities,” she said.

UnionPay says spending by cardholders was spurred by broad increases in luxury goods, department stores, supermarkets, duty-free goods and food and beverage. Total spending by local UnionPay cardholders doubled, driven by growth in spending in fashion, supermarkets and food and beverage.

“We received very positive feedback on Singapore Golden Week from customers and noncustomers alike – some even complimented us on Facebook,” said Wenhui Yang, GM of UnionPay International Southeast Asia.

“UnionPay’s payment products and services have been gaining momentum through our participation in the Great Singapore Sale and Singapore Golden Week, and this will spur us on to continue rolling out programmes that delight our customers, as well as consumers in Singapore,” he said.

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