A STUDY OF THE GREAT SINGAPORE SALE IN THE RETAIL INDUSTRY

Abstract

The Great Singapore Sale is an annual Island-wide coordinated Sale. The Sale is jointly organised by the Singapore Tourist Promotion Board and Singapore Retailers Association. The Sale was first held from mid-July to mid-August in 1994 The study examines the Great Singapore Sale within the context of the present retail slump The impact analysis of the Great Singapore Sale shows the positive effect of the Sale in increasing sales turnover of participating retailers during the Sale period. The retail sales index shows that the 1994 Sale had marginal effect on the retail industry. However, the 1995 Sale had a bigger impact than the 1994 Sale especially sales at department stores. As for the Sale impact on the tourist arrival and expenditure, the 1994 Sale increased tourist arrival for the month of July and August. But the Sale did not have a definite role in increasing the tourist shopping expenditure in 1994 The findings of the author survey on local and tourist shoppers show that ratings for the Sale are high in terms of variety and shopping experience. But in terms of discounts offered and prices of goods both the local and tourist respondents rated the Sale less favourably. The improvements suggested by the respondents includes more discounts, better publicity and more variety and selection of merchandise