Consumer Lifestyles in Singapore

June 2024

Add abstract here…Consumer Lifestyles offers valuable insights into key consumer attitudes and current thinking, and their impact on purchasing and consumption habits; quantifying behaviours, preferences and motivations, and aligning them with broader trends.

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This report comes in PPT.

Overview:

Consumer Lifestyle reports provide detailed snapshorts of the behaviours, attitudes and spending patterns of consumers in 40 countries. 

The Lifestyles reports offer valuable statistics and insights into key consumer traits and values, linking behaviour trends with purchase and consumption habits. Using lifestyles survey data, these reports quantify behaviours, preferences and motivations both now and in the future across specific consumer-related topics relating to how consumers live, shop, work and play in 40 markets. Analysis is also included on how Euromonitor’s 8 focus megatrends, the longer-term shifts in consumer attitudes and behaviour, are playing out in each of the 40 countries. Consumer lifestyles are constantly shifting. Understanding behavioural shifts is vital for businesses to stay competitive and adapt to in order to capitalise on new opportunities.

The Consumer Lifestyle in Singapore report includes:

Lifestyles survey data and analysis on consumer values, behaviour and future expectations on topics such as life priorities, home and work life, ethical and health priorities and eating, leisure and shopping habits and use of technology. Consumer Megatrends covered are: Connected Consumers Ethical Living Experience More Healthy Living Middle Class Retreat Premiumisation Shifting Market Frontiers Shopping Reinvented

The Consumer Lifestyle in Singapore report answers:

  • How is the consumer mindset in Singapore changing? In Singapore, what are consumer attitudes towards “green” and sustainable products?
  • What values influence consumers in Singapore purchase decisions?
  • Where and how do consumers shop in Singapore?
  • What health-related activities do consumers in Singapore participate in?
  • What megatrends should I focus on in Singapore (and why)?
  • How do I prioritize my investment? I operate in country x, which are the most important megatrends in that country?
  • My product chimes with the Healthy Living trend, what consumer behaviours do I need to consider for innovation planning?
Scope
Consumer landscape in Singapore 2024
Personal traits and values
Singaporean consumers concerned about the rising unit prices of essential goods
Older generations prioritise time with their partners
Singaporeans open to experiencing cultures other than their own
Singaporeans do their own research before trying out new brands
Voice of the consumer (1)
Gen Z consumers feeling optimistic about the future
Personal traits and values survey highlights
Home life and leisure time
Staying in touch with loved ones and friends on the phone the most frequent home activity
Gen Z consumers spend the most leisure time online
Voice of the consumer (2)
Gen X shows highest preference for energy efficient homes
Safe location - most desired external feature by Gen X
Value for money remains the most important travel feature among Singaporeans
Home life and leisure time survey highlights
Eating and dietary habits
Consumers in Singapore frequently take vitamins or supplements
Not having time is a major barrier to cooking at home
Weekly takeaway order or ready-made food is the most regular choice among Singaporeans
Voice of the consumer (3)
Millennials most actively look for healthy ingredients in food and beverages
Consumers are ready to pay more for products with health and nutritional properties
Eating and dietary habits survey highlights
Working life
All generations desire to work for a company that prioritises employee health and safety
Healthy work-life balance the number one desire for Singaporean employees
Baby boomers less concerned about a high salary compared to younger generations
Voice of the consumer (4)
Consumers expect to have flexible start and finish times in the future
Working life survey highlights
Health and wellness
Singaporeans participate in walking or hiking at least once a week
Meditation is the most frequent stress-reduction activity
H ealth and nutritional properties to be the most influential product feature
Gen X most active users of apps to track their health and fitness
Health and wellness survey highlights
Shopping and spending
Singaporeans always on the lookout for the best deals
Younger generations regularly buy themselves small treats
Millennials regularly buy gifts for family and friends
Baby boomers actively supporting locally-owned businesses
Singaporeans often buy used or second-hand items
Millennials eager to provide reviews on products or services
Friends and family recommendations most trusted source of information
Voice of the consumer (5)
Gen Z planning to save more and spend less
Younger generations slightly concerned about their current financial standing
Shopping and spending survey highlights
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