Megatrends in Singapore

August 2021

This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s eight focus megatrends and insights as to how each trend has manifested in Singapore.

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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?
The drivers shaping consumer behaviour
Megatrend Framework
Businesses harness megatrends to renovate, innovate and disrupt
Digital living
Samsung debuts Galaxy Z Fold3 5G in Singapore
Consumers comfortable with fitness wearables and tracking devices
Millennials are the most connected cohort
More than half of Singaporeans actively manage their data settings
Millennials are most drawn by personalised offers
Friends and family remain the most trusted source of information
Bounce back to face-to-face activities expected post-pandemic
Experience more
SIA officially launches its new experiences platform, Pelago
Real world experiences are still the most valued
Millennials are the most willing to spend money on experiences
Online socialising more common than face-to-face amid pandemic
Safety trumps all other destination features for Singaporeans
Gen X are the most keen to resume face-to-face activities
Middle class reset
hoolah takes advantage of BNPL boom to partner with more retailers
Middle-class consumers seek bargains amid belt-tightening
Gen Z are the most willing to buy pre-owned items
Repurposing gradually gains traction among Singaporeans
Gen Z are the most squeezed cohort
Premiumisation
Sage & Ylang unveils customisable microbiome beauty essence
Time-pressed Singaporeans yearn for a simpler life
Millennials are the most likely to enjoy tailored experiences
Consumers are optimistic about the value of their investments
Novelty and quality trump value when buying food and clothing
Shifting market frontiers
KFC partners with local fashion designer to celebrate National Day
Singaporeans continue to have a global outlook
All age groups are open to international products and cultures
Baby Boomers are most focused on supporting local business
Shopping reinvented
Miniso attracts Gen Z with “blind box” vending machines
Consumers prefer in-store experiences despite online boom
Social media engagement by shoppers is still relatively low
Millennials are most likely to engage with brands on social media
Sustainable living
Singapore builds its first sustainable “forest town”
Climate change is a top concern for Singaporeans
Food waste, recycling and plastics use are overriding issues
Singaporeans are not politically active but support responsible brands
Recyclable and biodegradable packaging are considered most sustainable
Wellness
Hoow Foods uses AI to make foods healthier
Singaporeans are keen on keeping fit and supplementing their diet
Millennials pay the closest attention to nutrition labels
Massage and yoga are the top mental wellbeing activities
Singaporeans are among the world’s top users of fitness apps
Consumers remain highly cautious about health and safety
Leverage the power of Megatrends to shape your strategy today
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