UOB card spending surged by 35% during Taylor Swift concert week, over $30m spent on tickets
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Card billings at UOB-acquired merchants surged 35 per cent week on week over Mar 4 to Mar 10, when four of six of Taylor Swift's The Eras Tour concert events took place in Singapore. UOB-acquired merchants are those who have chosen the bank to process crediUOB card spending surged by 35% during Taylor Swift concert week, over $30m spent on tickets
Card billings at UOB-acquired merchants surged 35 per cent week on week over Mar 4 to Mar 10, when four of six of Taylor Swift's The Eras Tour concert events took place in Singapore. UOB-acquired merchants are those who have chosen the bank to process credit and debit card transactions for them. According to first-quarter data released on Monday (Mar 25), spending across almost all tourism-related categories experienced a marked surge led in spending at clothing retailers (85 per cent), transportation and travel (80 per cent), and amusement and entertainment (over 50 per cent). Hotels rang in nearly 45 per cent growth in UOB card billings, while food and beverage (F&B) receipts rose more than 30 per cent. Spending across multiple categoriesat the Marina Bay precinct and the Central Business District that are close to the Singapore Sports Hub - where Swift's concerts were held - also outperformed national levels, the bank said. In November 2023, UOB said it will aim for two global partnerships in the entertainment space every year, as it taps the segment to drive acquisition and spending across its retail business. Read more