PUBLISHER: Euromonitor International | PRODUCT CODE: 1598199
PUBLISHER: Euromonitor International | PRODUCT CODE: 1598199
Singapore: Consumer Profile
Ageing, migration and generation shifts are shaping Singapore's demographic landscape. Economic turbulence and high inflation has led consumers adopting more cautions spending habits. The number of senior citizens are predicted to increase substantially by 2040, alongside a rise in life expectancy. Millennials and Gen X are expected to play a increasingly significant role in shaping that latest consumer trends and their wealth and influence grows.
Euromonitor's Singapore: Consumer Profile report analyses factors influencing national consumer expenditure. Consumer lifestyles reports include coverage of: population, urban development, home ownership, household profiles, labour, income, consumer and family expenditure, health, education, eating habits, drinking habits, shopping habits, personal grooming, clothing, leisure habits, savings and investments, media, communication, transport and travel and tourism. Use this report to understand the factors influencing a nation's lifestyle choices.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
- Get a detailed picture of the Economy market;
- Pinpoint growth sectors and identify factors driving change;
- Understand the competitive environment, the market's major players and leading brands;
- Use five-year forecasts to assess how the market is predicted to develop.
TABLE OF CONTENTS
Scope
Key findings
Key drivers affecting consumers in Singapore in 2023
How developments today shape the consumers of tomorrow
Migration is increasingly shaping and diversifying consumer tastes and preferences
Male obesity is a growing concern among male Singaporeans
Millennials focused on keeping healthy, looking after their families and further education
Opportunities for growth
Apartments dominant dwelling types due to high population density and limited space
Transportation strain places proximity to public transport as a highly desirable home feature
Owing to ageing population, over half of the household heads will be aged 60+
Near universal connectivity will empower tech-savvy Singaporeans
Government taking action to cool rising housing costs, as it aims to reduce inflation
Increased emphasis on prioritising health and wellness, especially Gen X and Millennials
Older generation's financial situation secure because of accumulated assets
Key findings of consumer survey
Gen X consumers place highest emphasis on value for money and quality household goods
Despite interest in bargains, Singaporeans less interested compared to the global average
Gen X consumers are the most active in the engagement of green activities
Singaporeans enjoy a high level of financial literacy, well above the global average
Gen X demand a strong work-life balance and job security
