By: Daryl Tan

DESPITE concerns of inflation, shoppers were out in full force in the first weekend of this year's Great Singapore Sale.

According to Mastercard, spending by cardholders from May 25 to 27 went up by 23 per cent - a whopping $51.2 million - against the same period last year.

Of this, Singaporeans chalked up expenditure of $33.8 million.

This year, foreign cardholders accounted for $17.4 million worth of purchases, with tourists from Australia, the United States, and the United Kingdom among the top spenders.

Cardholders from Australia alone spent a staggering 74 per cent more than they did during the last great Singapore Sale.

While fewer transactions were made at department stores, spending rose by about 14 per cent.

Consumers continued to splurge on dining, forking out about $4.5 million at restaurants and eating places. -ST