While experts believe InterContinental Singapore hotel's offer of a free night to guests whose plans have to be abandoned due to heavy rain can create some buzz for the hotel in a crowded and competitive industry, its thunder may be stolen by other factors that a visitor will consider when choosing a place to stay. SMU Associate Professor of Marketing (Education) Seshan Ramaswami said other factors include price, location, amenities, and an increasing attention to sustainable practices.
Commenting on Singaporeans travelling the world to watch Taylor Swift's concerts, SMU Associate Professor of Marketing (Education) Seshan Ramaswami said spending on experiences creates more lasting happiness for consumers than spending on tangible products. He added that local fans’ strong urge to catch the superstar as many times as possible can be due to the scarcity principle, where consumers are more inclined to purchase something in low supply and high demand.
Commenting on the authorities giving grant for Taylor Swift's concerts, SMU Associate Professor of Marketing (Education) Seshan Ramaswami said Singapore is drawing more than just tourists with its efforts to establish itself as a city with world-class recreation and entertainment infrastructure capable of hosting significant events. In the longer run, he said, it can attract foreign talent, especially in the creative industries, and companies to consider Singapore as their Asian or global base.
Commenting on the Central Provident Fund (CPF) Life annuity scheme, SMU Associate Professor of Finance (Education) Mandy Tham, whose research interests are in finance and wealth management, said that although the Special Account can be thought of as an investment account that earns returns from a floor interest rate, CPF Life is not an investment account but serves the purpose of ensuring our "minimum lifelong financial sustainability".
Commenting on more e-hongbao given out in Singapore this Chinese New Year, SMU Lee Kong Chian Professor of Marketing Kapil Tuli said more people started using e-hongbao during the pandemic as they saw it as a safer way of gifting than physical red packets. They are also convenient, environment-friendly and reduce the problem of giving physical packets with the wrong denomination, he added.
According to latest figures from the Changi Airport Group, Changi Airport's passenger traffic is slowly making its way to pre-Covid levels. In the last quarter of 2023, more than 16 million passengers passed through Changi. SMU Assistant Professor of Strategy & Entrepreneurship (Education) Terence Fan discussed how long-haul flights is expected to drive further growth. He also noted that in comparison between China and Singapore, flights are doing fine in terms of what the other regions like China and elsewhere in the world has been doing.
Commenting on the SimplyGo system for public transport users, SMU Assistant Professor of Strategy & Entrepreneurship (Education) Terence Fan said that the move towards using apps for transport systems may be frustrating to users because of cybersecurity concerns and it would alienate users who may need better or newer smartphones that can load newer app updates. He also shared his views on how the planned change could have been communicated earlier to allow commuters to make more informed decisions on how to pay for public transport in the future.
Commenting on ComfortDelgro's pilot salary scheme with benefits for taxi drivers, SMU Assistant Professor of Strategy & Entrepreneurship (Education) Terence Fan said that the scheme is a way for ComfortDelGro to try and attract back drivers who may have shifted to the private-hire model due to the pandemic. Asst Prof Fan, who studies transport economics, added, “Business has been slow during the pandemic, and the taxi drivers bore the brunt of the decline.
Commenting on the higher e-wallet limits, Assistant Professor of Finance (Education) and Director of the Citi Foundation-SMU Financial Literacy Programme for Young Adults Aurobindo Ghosh said that multi-currency e-wallets and apps like YouTrip have flexibility and lower cost of operations compared with a multi-currency bank account, mainly due to the higher regulatory burden that traditional banks have to face. He added, “In general, consumers benefit more using these e-wallets as the exchange rates are more competitive and service charges are lower.
Remarking on the survival of all passengers and crew aboard a Japan Airlines (JAL) plane, which collided with a coast guard plane and caught fire, SMU Assistant Professor of Strategy & Entrepreneurship (Education) Terence Fan, an airline industry expert, said, "Passengers seemed to have followed instructions in a textbook manner. This is exactly what evacuation policies are designed for -- the airframe itself is not meant to survive the blaze, ultimately."
