Singaporeans – Asia's splurge kings

Today Online 21 Dec 07;

WHEN it comes to partying and eating this festive season, Singaporeans, it seems, are the kings of Asia.

Almost half of those polled — 41 per cent — said they would put on the glad rags and make merry this Christmas, while one in two would splurge on a lavish dinner with family and friends.

This, according to a recent GE Money survey of 2,000 of its employees in seven markets across the continent — China, South Korea, Japan, Thailand, Indonesia, Singapore and the Philippines.

And guess what these people want most for a Christmas gift? Money.

Yes, an equal number (32 per cent) of Singaporeans and Filipinos would love a wad of notes. But certainly not as much as the Thais – with 37 per cent saying the rustle of crisp new notes in their pockets would be the best Christmas gift they could hope for.

Not the Japanese, Chinese and Koreans. Money was the least preferred present for our East Asian neighbours. They would rather opt for "accessories, including a watch".

But its also "easy come, easy go" for Singaporeans and Filipinos, who are just as fond of spending their money, with more than 50 per cent saying they would buy more than six gifts this year.

Credit card was the preferred mode of payment, with 91 per cent of Koreans using them, followed by the Chinese (78 per cent) and Singaporeans (59 per cent).

If money were no object, most Asians would want to fly away for the holidays — except the Japanese, 40 per cent of whom said they would rather stay at home. An overwhelming number of Filipinos (68 per cent) said they will attend church services.

Malls ringing up bumper festive sales
Booming economy, good bonuses have made shoppers more willing to spend
Lin Xinyi, Straits Times 21 Dec 07;

MALLS across Singapore are packing in the shoppers this festive season, with some reporting up to a third more traffic than last year.

And with four days of shopping left before Christmas, market watchers said sales are primed to shoot through the roof.

'It may very well be the best bumper Christmas ever,' said Mr Colin Tan, head of research at consultancy firm Chesterton International.

A booming economy, good bonuses and a positive outlook on the new year have all fuelled a 'feel good' mood that has consumers willing to spend, he said.

'Everywhere you go is crowded.

'I think people have been working very hard this year, so they've had less time to shop, but they are feeling generous and are looking for excuses to spend.'

Toys 'R' Us is one of the many Singapore retailers which has seen sales rise.

Some 1.3 million shoppers have walked through its doors so far this festive season, up from 950,000 for the same period last year.

Sales, too, have gone up by about 7 per cent, with Transformers figures, Lego sets and Rubik's Cubes among the top-selling items, said a Toys 'R' Us spokesman.

At Paragon, the management has noticed that shoppers have begun their Christmas hunt earlier and were willing to splurge more.

Instead of the traditional December rush, shops were thronging with buyers by the third week of November this year, said Paragon deputy general manager Patrina Tan.

Mr John Cheston, vice-president of the Singapore Retailers Association and chief executive of Robinsons department store, said the shopping climate is bullish.

Robinsons, a popular stop for many shoppers, is seeing low double-digit growth in both store traffic and sales, he said.

At Wisma Atria, where managers estimate at least 30 per cent more shoppers in the mall this year, stores are reporting good business.

Jeweller Goldheart, for instance, told The Straits Times that it was seeing 65 per cent more business this year than last.

Assistant brand manager Gary Goh said the weekly late-night shopping and in-house promotions have contributed to the sales.

That is a trend that Mr Tan of Chesterton International is seeing too. 'Shops which have promotions or specials are likely to benefit because they can capitalise on the shoppers' willingness to spend,' he said.

And people are not just spending on the city's main shopping thoroughfare, Orchard Road. Heartland malls are also experiencing brisk business.

According to Frasers Centrepoint, all its seven malls, including Northpoint (Yishun) and Compass Point (Sengkang), are getting an average of 15 per cent more traffic.

Meanwhile, people are putting pricier goods on their shopping lists this time around.

Jewellery, watches and electronics are hot gift items - possibly due to an expectation of large bonuses, said Ms Tan.

And retailers believe their busiest days are yet to come.

A Tangs Orchard spokesman said: 'Singaporeans tend to be last-minute shoppers, so we expect festive shopping to really pick up this week.'

Cash registers ring with glad tidings for retailers
Shops are jingling all the way to the bank as crowds embark on last-minute shopping sprees
Tan Dawn Wei, Straits Times 23 Dec 07;

IT WAS three days before Christmas, but at the gift-wrapping counter of Robinsons Centrepoint yesterday a hand-scrawled sign read: 'Gift tags, ribbons, boxes, gold wrappers - out of stock.'

Staffed by nine very busy workers speedily wrapping presents of all shapes and sizes, the counter was doing the briskest business in the entire department store.

Upon seeing the queue of at least 30 shoppers snaking around the counter, housewife Christine Goh, 42, decided she would wrap her presents herself.

'I still have more shopping to do, so I'd better not waste time queuing if I can help it,' she said. She was carrying two bags full of purchases.

The drizzle did not dampen shoppers' spirits as they braved the rain and crowds for some last-minute Christmas shopping.

Some, like IT consultant Raymond Chew, 38, said they had no choice but to do their shopping at the eleventh hour. He said: 'I've been too busy with work to even draw up my shopping list, so I have to be very focused today in getting all of the shopping done.'

Others had procrastinated.

'This is a critical weekend for us,' said Ms Ellen Yeo, vice-president of store management at Tangs. She expected the number of shoppers to surge by 20 per cent this weekend and extended the store's opening hours till midnight for yesterday and today.

Tangs has beefed up its manpower for the season by 20 per cent compared to last Christmas and 35 per cent over the usual level. Robinsons boosted its staff strength by 50 per cent.

But it will all be worth it. This Christmas is expected to be a bumper year for retailers.

Robinsons declined to give an estimate of its expected Christmas earnings. Senior commercial manager Jane Lee would only say it would be 'above last year's figures'.

With the buoyant economy and newly paid-out bonuses, shoppers have been spending on more luxury items, said Tangs' Ms Yeo, adding that luxury watches, MP3 players and toys have seen a jump in sales this year.

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