lkarren

coped from: http://www.channelnewsasia.com/stori...284783/1/.html

Increased sales of luxury items before GST hike
By Valarie Tan, Channel NewsAsia | Posted: 27 June 2007 1858 hrs


SINGAPORE: Saying "I Do" may come with a bigger price tag after 1 July, when the GST increases from five to seven per cent.

That is why couples, like Glenn and Esther, have been busy shopping around to try and beat the hike, even though they are only tying the knot next year.

"When it comes to planning for a wedding, tens of dollars do count. And five per cent compared to seven per cent – two per cent might amount to hundreds of dollars if that item (is expensive), like furniture," said 29-year-old Esther Lee.

"Right now we're here because we want to see [if] there is a very good selection here... so if we can buy one now, we [will] probably just grab [it]."

"Things I would consider buying now would be those which are luxurious... things that probably cost more... because of the increase in GST. I think I would consider buying furniture, jewellery first," said groom-to-be Glenn Pan.

Soo Kee Jewellery said sales went up by 30 per cent over May and June.

The average customer spends up to S$2,000 each time.

Said Geraldine Loh, Senior Brand Manager, Soo Kee Jewellery, "We have customers coming in especially to buy the bigger ticket items - essentially proposal rings, our Brilliant rose collection, as well as wedding jewellery.

"We also have our regular customers who are buying their birthday gifts... some thoughtful husbands who are buying anniversary gifts beforehand."

Furniture and electronics megastore Courts has also seen customers shopping in advance.

Popular items include bedroom sets and flat panel televisions.

Luxury products such as these will continue to be in demand even if their prices increase, according to retailers.

Many are confident their businesses will not suffer setbacks when the GST goes up to seven per cent.

"We will monitor the situation. At present, there are no plans for any price adjustments. But we believe all jewellery lovers will still continue to buy jewellery," said Ms Loh. - CNA/yy

genzo2106

well sooner or later ppl will just accustomed to the 7% GST and all will revert to as per normal buying habits...I believe the sudden surge in buying spree is just temporary

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wenchong1985

hmmmm..... later the government see the increase in sale as a increase in tax, they will plan another GST increase soon, each time increase 1 % all the way to 10%, like that can boost sale , hahahaha

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sex-on-heels

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Jesper

I don't see the need to buy luxury items just because the gst is rising. If the gst remains at 5% i dont think they will be willing to spent so extravagantly.

mikenth

I always buy my stuffs in Hong Kong or duty-free shops in the airport, where there are no taxes. Not worth buying locally.

:devil2:

fuyumi

2% increase for something so expensive can be costly.

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uyen

its better to shop online.

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