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Retailers hope for boost in Great Singapore Sale
Publication Date : 25-05-2012
At this year's Great Singapore Sale (GSS), on Jannie Chan's wish list is a bump in sales of between 8 per cent and 10 per cent.
The president of the Singapore Retailers Association (SRA) said that although some retailers have reported a slowdown in recent months, she was optimistic that the GSS would increase sales.
She said: "Our economy may not be going up, but it's stable, and we're better off than Europe and the United States."
Chan was speaking at a press conference yesterday held at Orchard's 313@Somerset mall to launch the annual sales event, which starts today and ends on July 22.
She said that through council meetings, retailers had told her that they were doing much better today compared to two years ago.
New brands were being brought in and people were spending more, she said.
The SRA represents some 80 per cent of retailers here.
Asked how much of a bump in sales the GSS would likely generate, Chan said she could not give a definite figure.
But she said: "I wish for an increase of between 8 and 10 per cent... If we have strong tourist arrivals and domestic spending, I think we could hit those rates.
"I believe that there are enough incentives during this GSS to encourage consumer spending."
Last year, customer spending during the two-month-long sale reached a record high of S$6.1 billion (US$4.8 billion), an 11 per cent increase from the previous year's figures.
Now in its 19th year, GSS sales have risen steadily - except in 2009 during the economic slump and 2003 during the Sars crisis.
This year, new malls Changi City Point and JCube will take part in the sale for the first time.
SRA and MasterCard will also give away a free fashion and home makeover to the families of three students with the biggest improvements in their English exams.
The students will be selected from The Straits Times School Pocket Money Fund's STep UP programme.
William Tan, advertisement sales director of Singapore Press Holdings, said the GSS was "exceptionally important".
"The deals which retailers offer will not only cushion consumers against inflation, but also raise the happiness level of Singaporeans.
"After all, shopping is our national pastime," he said.