News @ AsiaOne

The urge to splurge

When it comes to shopping, it seems nothing can dampen the spirit of Singaporeans. -TNP
Tan Mae Lynn

Tue, Dec 25, 2007
The New Paper

'TIS the season to spend, spend, spend. When it comes to shopping, it seems nothing can dampen the spirit of Singaporeans.

So what if the global share market is in the doldrums, and naysayers even predict that a US-led recession is just round the corner.

To an avid shopper like Ms Sharon Choo, this is a heavenly time for her - and everyone else getting their shopping fix.

The 30-year-old said: 'I notice my friends buying more expensive stuff and overall buying more things this year.'

CELEBRATORY MOOD

Take a stroll along Orchard Road, or through any mall for that matter, and you'll see that every other retailer is having a sale.

Not to mention the ever-popular bazaars at shopping centre atriums which always seem to be selling their wares at bargain prices.

Miss Hamidah Mohd Salim, 22, a faculty assistant, said: 'I've definitely been spending a bit more this festive period.

'It's because there are so many sales tempting me, I can't resist.'

And why not, given that workers in the public and private sectors are set to get more bonuses than usual after a sterling performance by the economy this year.

Last month, the Government announced that those in the civil service will receive at least two months' salary as their bonus.

In general, wages of workers here are also tipped to rise from 3.8 per cent to 5.2 per cent.

The New Paper on Sunday observed crowds in shopping malls on weekday afternoons, and they have been larger than compared to previous years.

At VivoCity, which opened last December, shoppers still cannot get enough of its 1 million sq ft of retail space and family-friendly facilities.

Many parents appeared to have taken their annual leave to shop and entertain their children who are on school holidays.

Along Orchard Road, you can tell from traffic jams and queues into carparks - even in the afternoons - what you're likely to expect inside the malls.

Over at Marina Square, sales manager Tan Hock Ann, 34, who works in the vicinity, said: 'Even on weekday afternoons, (the malls) are crowded.

'There're definitely more people out shopping this year.'

Mr Ying Zhi Jian, 31, who works in a bank, noted: 'From my observation, cash registers are ringing, Orchard Road is packed, shops are crowded and people are lugging plenty of shopping bags.

'People are even queuing up to enter (luxury brand stores) regardless of whether it's the festive period or not. So yes, obviously we're in the midst of good times.'

INCREMENTS

Another shopper, who gave her name only as Anne, is among those who have received a fatter bonus and a bigger salary increment this year.

She said: 'Yes, I've got more money this year and yes, I've spent more money too.'

She added: 'We're definitely in good times, and I don't think I'm the only one spending more this year.

'Just look around at the crowds you see - they're in the malls way before the festive period started.

'Singaporeans seem to slow their spending when hard times hit, rather than moderate it in good times.

'We tend to be more reactive, which isn't exactly good because to cut spending during a slowdown is already after the fact.'

However, Miss Hamidah said she isn't concerned about a possible slowdown next year, even if countries such as the US may be feeling a tightening of the market with its sub-prime woes.

She said: 'I still save some money each month, so I'm not worried.'

Even for those who didn't get huge bonuses this year, festive spending appears to be hard to resist.

Miss Lee Hui Ee, 24, who works as a sales executive, said: 'Frankly, it's not that I'm earning more money this year, but it's Christmas.

'Generally, we tend to spend more during the Christmas period, right? It's part of the festive celebrations.'

 
 
 
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