By Imelda Saad | Posted: 11
December 2010 1701 hrs
SINGAPORE: Retailers are ringing in a happier
Christmas this season, with some projecting year-end sales to grow
by up to 30 percent compared to the previous year.
From branded footwear, high-end coffee makers, serums that proclaim
the promise of youth and even body-shape wear for men, shoppers are
spending hundreds and even thousands of dollars on year-end
gifts.
On the back of a stronger economy and bigger bonuses this year,
retailers said shoppers are more willing to splurge on big ticket
items for themselves, family and friends.
In fact, the expectation is for year-end sales to hit pre-crisis
levels.
Gerry Rezel, vice-president for group marketing &
communications at Tangs, said: "Everyone's saying, 'I've worked
very hard and so it's time to enjoy and spend a little bit more on
the family and ourselves'. And we've seen it in the buying patterns
for home products and the types of gifts."
"I have almost everything...I don't mind anything new to replace in
the kitchen!" said a shopper.
"I don't care about the price as long as I think it suits them and,
yea, I just spend!" said another.
Ong Ying Hui, retail associate at Swarovski, said: "Some actually
are buying for their boss, they will choose (gifts) like necklace
from our classic range and some are even willing to top up more to
get a free gift!"
And of course there are the uber-cool gadgets that almost everyone
is eyeing.
"Oooh! I wanted to buy a new laptop for myself," said a woman
shopper.
Sebastian Chua, assistant retail store manager at epiCentre, said:
"My bestseller would be a new MacBook Air, of course, followed by
the iPad as an educational tool as well. For Christmas, more are
getting the iPod as well, Nano, Touch, Shuffle."
He said the average spending power for customers at the epiCentre
shop is about S$1,500 to S$2,000.
The tills are ringing - also because of the surge in tourist
numbers.
Singapore expects visitor arrivals to hit a record of around 12
million this year, helped by the success of the country's two
integrated resorts.
"Going to Singapore is a reward in itself," said a woman from the
Philippines who is visiting Singapore with her family.
"Spending time, eating out and shopping for the family is already a
splurge for us!" said the husband.
Moving forward, retailers are bracing for slower growth next year
as the economy moderates. Still, Asia Malls - which manages six
malls in Singapore - expects strong sales to continue, at least in
the first quarter of 2011.
"Based on past trends of shopper buying behaviour, we see this
trend likely to remain strong till after Chinese New Year", said
its general manager Stephanie Ho.
- CNA/ir
