New retail and F&B experience!

Wondering where to go with your family and friends during this Chinese New Year long weekend?

There is a new retail and F&B experience in Singapore!

It is the perfect magical setting for lovers to romance, families to celebrate, and special occasions to be remembered!

From 1 – 28 February 2013, spend a minimum of $50.00 in a single receipt and be one of 3 lucky winners to be pampered with a 3D2N stay at W Singapore – Sentosa Cove hotel!

So, where is this place? Find out more: here.

Consumers in Singapore to spend less in 2013.

I keep hearing how most businesses found 2012 more difficult compared to 2011. I am in agreement. Now, to dampen spirits further, if a report by Nielsen's is correct, 2013 could be even tougher.

In a survey carried out, it seems that consumers in Singapore are cutting back on discretionary spending in 2013. The top 3 areas of cut backs:

1. New clothes (55%)
2. More expensive grocery (47%)
3. Utilities (47%)

If we think that it is probably due to a lack of job security or the rising cost of living in Singapore that is causing consumers here to cut back, we are not wrong.

However, it was also found that consumers will remain cautious in their household expenses even if there should be an improvement in the economy. I believe that this hints at a general feeling of pessimism and a distrust of the economy that runs deeper than what we might believe to be the case.

To cut back on consumption is an important step in individual wealth building efforts for ordinary people but I do not think that wealth building was on the minds of most of the respondents in the survey. Why? In the same survey, the respondents also revealed that they would be cutting back on investments too.