Consumer Lifestyles in Singapore

CONSUMER LIFESTYLES IN
SINGAPORE
Euromonitor International
November 2017
CONSUMER LIFESTYLES IN SINGAPORE Passport I
LIST OF CONTENTS AND TABLES

Lifestyles in Singapore ................................................................................................................. 1
Chart 1 Consumer Lifestyles in 2017 ........................................................................ 1
Top Five Consumer Trends .......................................................................................................... 1
Consumers Still Reluctant To Spend But Becoming More Optimistic ....................................... 1
Despite Consumer Spending Cuts Popularity of Online Shopping Continues To Grow ........... 2
Growing Number of Affluent Older Consumers Set To Greatly Influence Consumer Landscape2
Consumers Increasingly Choosing To Live Healthier Lifestyles ............................................... 2
High Home Ownership Rate Spurs Increased Demand for Mortgages and Household Items .. 3
Consumer Segmentation .............................................................................................................. 3
Babies and Infants (0-2 Years) ................................................................................................. 3
Chart 2 Babies and Infants in Focus 2016-2030 ....................................................... 4
Kids (3-8) .................................................................................................................................. 4
Chart 3 Kids in Focus 2016-2030............................................................................. 5
Tweens (9-12) .......................................................................................................................... 5
Chart 4 Tweens in Focus 2016-2030 ........................................................................ 6
Teens (13-17) ........................................................................................................................... 6
Chart 5 Teens in Focus 2016-2030........................................................................... 7
Young Adults (18-29) ................................................................................................................ 7
Chart 6 Young Adults in Focus 2016-2030 ............................................................... 8
Middle Youth (30-44) ................................................................................................................ 8
Chart 7 Middle Youth in Focus 2016-2030 ................................................................ 9
Mid-lifers (45-64)....................................................................................................................... 9
Chart 8 Mid-Lifers in Focus 2016-2030 ................................................................... 10
Later-lifers (65-79) .................................................................................................................. 10
Chart 9 Late-Lifers in Focus 2016-2030 .................................................................. 11
Chart 10 Life Expectancy for Men and Women and Old-Age Dependency Ratio ..... 11
Seniors (80+) .......................................................................................................................... 12
Chart 11 Seniors in Focus 2016-2030 ...................................................................... 12
House and Home ....................................................................................................................... 12
the Home Space ..................................................................................................................... 12
Chart 12 Households by Type of Dwelling; Number of Home Owners with and
without a Mortgage 2016-2030................................................................... 13
Chart 13 Households by Type 2016 .......................................................................... 13
Running Costs ........................................................................................................................ 14
Chart 14 Household Running Costs 2016-2030........................................................ 15
Spending and Saving ................................................................................................................. 15
Attitudes Towards Spending ................................................................................................... 15
Attitudes Towards Savings ..................................................................................................... 16
Chart 15 Disposable Income and Savings 2011-2016 .............................................. 16
Shopping .................................................................................................................................... 17
© Euromonitor International
CONSUMER LIFESTYLES IN SINGAPORE Passport II
Main Household Shop ............................................................................................................ 17

Chart 16 Main Household Shop by Retailer Type: 2016 ........................................... 18
Shopping for Big-ticket Items and Personal Goods ................................................................ 18
Shopping Online ..................................................................................................................... 19
Chart 17 Internet Retail Spending: 2016 ................................................................... 19
Eating and Drinking .................................................................................................................... 20
Eating Habits .......................................................................................................................... 20
Chart 18 Consumer Spending on Food by Type: 2016 ............................................. 21
Chart 19 Total Spending on Food and Spending on Food per Household: 2016 ...... 21
Drinking Habits ....................................................................................................................... 22
Chart 20 Consumer Spending on Drinks by Type: 2016 ........................................... 23
Chart 21 Total Consumer Spending and Spending on Alcoholic and Non-
Alcoholic Drinks: 2016 ................................................................................ 23
Grooming and Appearance ........................................................................................................ 24
Investing in Yourself: Female Personal Grooming and Hygiene ............................................. 24
Chart 22 Consumer Spending on Clothing, Footwear and Personal Care: 2016 ...... 24
Investing in Yourself: Male Personal Grooming and Hygiene ................................................. 25
Chart 23 Consumer Spending and Spending on Clothing Footwear and
Personal Care: 2016 .................................................................................. 25
Style Icons and Celebrity Influences ....................................................................................... 26
Healthy and Ethical Living .......................................................................................................... 26
Attitudes To Health and Wellbeing.......................................................................................... 26
Chart 24 Health of the Nation 2016 – 2030 ............................................................... 27
Chart 25 Percentage of the Population Overweight or Obese .................................. 27
Ethical Living .......................................................................................................................... 28
Sport and Fitness.................................................................................................................... 29
Leisure and Recreation .............................................................................................................. 29
Leisure Time ........................................................................................................................... 29
Chart 26 Household Possession of Selected Home-Tech and Mobile Phones
2016; Percentage of Households with Internet Access .............................. 30
Chart 27 Consumer Expenditure and Spending on Leisure and Recreation
2016 – 2030 ............................................................................................... 30
Vacations ................................................................................................................................ 31
Chart 28 Consumer Expenditure and Consume Expenditure on Package
Holidays 2016-2030 ................................................................................... 31
Opportunities for Celebrations and Gift-giving ........................................................................ 32
CONSUMER LIFESTYLES IN SINGAPORE Passport 1
CONSUMER LIFESTYLES IN
SINGAPORE
LIFESTYLES IN SINGAPORE
Chart 1 Consumer Lifestyles in 2017
Source: Euromonitor International
TOP FIVE CONSUMER TRENDS
Consumers Still Reluctant To Spend But Becoming More Optimistic

More recently the sluggish economy and soft job market has convinced many consumers to
rein in their household spending, particularly their discretionary spending, a task made more
difficult due to the high cost of living. In 2016 consumer expenditure per household reached
SGD90,011, reflecting a decline of 1.7% from prior year. In addition, despite recent reports of
concerns about growing household debt, declining consumer confidence has prompted many
consumers to avoid borrowing to pay for their purchases. In particular, there have been
significant declines in borrowing for autos and durables, while credit card users are increasingly
paying off their balances every month.
According to a 2017 article on news website bloomberg.com, consumer spending will
continue to slow in the short term as “unemployment is rising, wage growth is slowing and
household debt is increasing,” all factors that make consumers reluctant to spend and/or
borrow. Regardless, according to recent surveys, an increasing number of consumers are
becoming more optimistic about their financial futures as the economy shows sign of recovery,
however patchy. In particular, some observers expect that as pessimism fades many consumers
will unleash their pent-up demand for big-ticket items.
Despite Consumer Spending Cuts Popularity of Online Shopping

Continues To Grow
Despite consumers cutting back on spending, the popularity of internet retailing continues to
grow, reflected by value sales per household growing by nearly 31% between 2015 and 2016. In
many instances, price-conscious consumers are turning to online retailers to get better bargains
and take advantage of promotions, while others simply value the convenience and wide range of
product options. The high penetration of smartphones and the increased number of retailing
apps have also boosted growth of online shopping. A 2016 survey by PwC revealed that 60% of
consumers buy products online at least once a month. The survey also noted the growing
influence of discussions, reviews and recommendations and the rise in the number of social
media ‘influencers’ on changing shopping habits.
According to a 2016 study by Pitney Bowes, consumers in the small nation are frequent
cross-border shoppers, with 89% of online shoppers reporting they have purchased products
from foreign sites. Shopping events such as Black Friday and Cyber Monday have become
increasingly popular, attracting consumers looking for bargains from US-based internet retailers.
Growing Number of Affluent Older Consumers Set To Greatly Influence

Consumer Landscape
Between 2016 and 2030 the number of Later-Lifers is projected to increase at a robust rate of
almost 100%, reaching nearly 1.2 million in 2030 and the number of Seniors (80+) will grow by a
massive 131%, and these two groups will account for nearly 25% of the total population, which
will make Singapore by some estimations, the sixth-oldest in the world (by median age). As the
number of Later-Lifers and Seniors grows in coming years, demand for age-specific products
and services will grow in tandem. For example, it is expected that housing estates will need to
provide more recreation and care facilities for older residents, as well as provide more
household safety features, particularly for those who live alone. Certainly, a wide range of age-
related health and medical products and services will see increased demand, as will age-
specific travel and recreation services for the greater number of Later-Lifers with more time on
their hands.
Later-Lifers rely on variety of income sources, including the government-sponsored CPF
Lifelong Income for the Elderly (CPF LIFE) Scheme. According to a 2013 study by bank HSBC,
the largest source of retirement income is cash savings and deposits, followed by investment
income and income from property and assets. In addition, many Later-Lifers have decided to
continue to work in order to maintain or supplement their annual incomes.
Consumers Increasingly Choosing To Live Healthier Lifestyles

Growing awareness of the benefits of living a healthier lifestyle has influenced consumers’
shopping habits, particularly their choices when shopping for food. This has been facilitated by
the successful ‘Healthier Choice’ scheme promoted by the government which highlights the
healthiest options among 2,600 food products displayed on grocery shelves. In addition,
demand for organic food has increased considerably, reflected by value sales increasing by
nearly 33% (in real terms) between 2011 and 2016. Evelyn Eng-Lim, director of the Green Circle
organic farm, said in The Straits Times “Many people are shifting their tastes towards organic
food, much more so in the past few years. There is also a more diverse range of customers
now...A majority of our customers used to be expats, but now half of them are local”. Health-
conscious diners have also benefited from the government’s recently launched Healthier Dining
Programme, aimed at residents who choose to dine out. According to the Health Promotion
Board, as of end of March 2017 the number of healthier meals sold at restaurants and other
food service outlets had increased to 26 million, up from 7.5 million in 2014. In 2017 the
programme was extended to include hawker centres and coffee shops to meet consumer
demand.
Singaporeans are also getting fitter. A recent survey from Sport Singapore revealed that 38%
of respondents said they participate in physical activities at least three times per week, up from
16% in 2001. The survey also revealed that walking for exercise was consumers’ favourite
physical activity, followed by jogging/running, swimming, and playing badminton. The growing
number of those participating in fitness activities has led to greater demand for a wide range of
sports-related products and services, ranging from athletic shoes and clothing to gym
memberships.
High Home Ownership Rate Spurs Increased Demand for Mortgages

and Household Items
Ninety-four percent of households were occupied by home owners in 2016, with 80% of
residents living in HDB (Housing Development Board) flats. A number of factors have
encouraged consumers in recent years to buy their own homes, including low prices, low
interest rates and government subsidies, especially subsidies for eligible first-time and second-
time buyers purchasing government-built flats. Demand for mortgages has increased, with the
number of home owners with mortgages increasing by 21% between 2011 and 2016. Home
owners with mortgages now account for 45% of all home owners.
Nearly all home owners in urban Singapore live in apartments/flats—the most recent General
Household Survey revealed that four-room flats were the most popular type of dwelling—and
this has supported sustained demand for smaller appliances, furniture and other household-
related items that fit comfortably in smaller spaces. In addition, home owners tend to be more
willing to invest in their homes, though many younger first-time home buyers often have little left
in their budgets to fund home renovation projects. Instead, they tend to put their personal
stamps on their home through decoration and furniture choices. According to a recent survey by
website qanvast.com.sg, the most popular furniture styles among young home owners are
modern (cited by 27% of respondents), contemporary (17%), Scandinavian (14%), industrial
(12%) and eclectic (10%).
CONSUMER SEGMENTATION
Babies and Infants (0-2 Years)

 A number of factors have led to increasingly low birth rates and fertility rates, including many
couples’ concerns about the financial cost of raising children. A 2016 report on website
todayonline.com estimated that the cost of raising a child in Singapore averaged SGD360,000
over twenty years, ranging from SGD200,000 on the low end to SGD1 million at the high end.
Indeed, the number of households occupied by couples without children increased by 11.5%
between 2011 and 2015 alone. In response, the government has introduced several
programmes intended to ease consumers’ financial burden and convince couples to have
more children, including cash bonuses and grants, childcare subsidies and parenthood and
childcare leave.
 Most mothers returning to work after giving birth do not breastfeed their babies for the
recommended period and, in turn, they rely on milk formula to feed their infants. But parents
have had to face increasingly higher costs for milk formula in recent years, in large part due to
producers primarily promoting more expensive premium products. According to a 2017 article
on website straitstimes.com, “The average price of a 900g tin of infant milk powder has
soared 120% over the last decade to SGD56.06, making it among the highest in the world.
Pleas from frustrated parents have led to government pressure and, as a result, supermarkets
have committed to making cheaper options available.
 In past years families with working mothers found it difficult to secure acceptable childcare for
their babies and infants, but according to recent data from the Early Childhood Development
Agency (ECDA) that is changing, with the considerable number of recently built childcare
centres meaning that there are now places for one in two children, up from one in three only
three years ago. A recent report from website channelnewsasia.com noted that while most
parents still prefer childcare centres near to their homes, a growing number prefer childcare
centres to be located in workplaces, and that now one-third of centres are located in
commercial premises.
Chart 2 Babies and Infants in Focus 2016-2030
Source: Euromonitor International from national statistics/UN

Note: Data for 2017-2030 are forecasts
Kids (3-8)
 Most Kids aged five to six years-old attend kindergartens. A portion of the fees required from
parents are covered by the government’s Child Development Account. Fees vary from
institution to institution, with monthly fees at popular PCF (PAP Community Foundation)
kindergartens ranging from SGD74.90 to SGD350. Parents generally can expect to be asked
to cover other costs, as well. According to website babyment.com, additional costs at PCF
kindergartens include registration fees, fees for uniforms physical education attire, books,
workbooks and other study materials and a miscellaneous fee to cover stationery used in
lessons and other items.
 Kids in tech-savvy Singapore are ardent users of the internet and digital devices. A 2015
study by the Media Development Authority (MDA) reported on website channelnewsasia.com
revealed that 80% of children aged up to 14 years-old had used the internet in the year prior
to the survey, and that they started going online at 6.1 years-old. The report also noted “65%
of children surveyed used social media in 2015...Smartphones were used by 86.1% of
children to access the internet, while 78.3% of respondents used tablets”.
 A recent survey by Nanyang Technological University and the National University Hospital
revealed that four of ten primary school students aged six to nine years-old were sleep-
deprived and that a primary reason for this was how students use digital devices before
bedtime. According to a report on todayonline.com, “The most popular activity for them an
hour before bedtime was watching television (74.6%), followed by the use of smartphones
(58%), and the use of computers (30%)”. As a result, “Almost half the children (45%) fell
asleep while travelling while six of 10 were found to be overactive during the day”.
Chart 3 Kids in Focus 2016-2030

Note: Data for 2017-2030 are forecasts
Tweens (9-12)
 Tweens spend a great deal of their time in school preparing for the national Primary School
Leaving Examination (PSLE) which is taken at the end of their Primary 6 year. The test is
important as it determines students’ acceptance to secondary school, and preparing for it
produces high levels of stress for both students and their parents. A recent survey by The
Straits Times newspaper revealed that eight out of families send their primary school students
to private tuition, with the median cost reaching SGD205 per week. Students spend an
average of three hours a week in classes held after regular school hours.
 A recent study by the think-tank DQ Institute and Nanyang Technological University on
Tweens digital habits and reported on news website straitstimes.com revealed that “the digital
world is now the children's playground”. According to results of the survey, “Twelve-year-olds
here spend almost 46 hours a week—or over 6½ hours daily—glued to a screen. Even nine-
year-olds are spending over 24 hours a week, or about 3½ hours daily, doing the same”. The
survey also revealed that more than one-half of nine-year-olds own a mobile device and that
the rate increases to 70% for 12-year-olds. Tweens’ most common online activities included
using search engines, listening to music, watching videos and playing video games. In
addition, 55% of nine-year-olds and 77% of 12-year-olds are active on social media and chat
apps.
 Concerns about students’ increasingly sedentary lifestyles and unhealthy weight gain have
recently prompted schools to begin to promote more physical activities. According to a report
on website gov.sg, “Schools are unlocking their athletic equipment cupboards and facilities
during recess and after school, to encourage young people to pick up a ball or a racquet and
play for fun”. The report described 11-year-old Primary 5 student Lance Liu, who “spends no
more than five minutes of his precious 30-minute recess time to eat, so he has the rest of it for
a game of badminton with his friends. ‘It helps us de-stress and we can focus better in class,’
he said”. The report added “Getting children to be more active has benefits, as obesity rates
among schoolchildren have risen in recent years, from 10% in 2000 to 12% in 2014”.
Chart 4 Tweens in Focus 2016-2030

Notes: (1) Data for 2017-2030 are forecasts
(2) This group includes the younger end of the population group ‘Generation Z’ (born from 1995-2009)
Teens (13-17)
 Most Teens attend secondary school and, depending on their results in the national Primary
School Leaving Examination (PSLE), they are assigned to specific educational tracks, i.e.,
Express, Normal (Academic) or Normal (Technical). In large part, their secondary school
studies are meant to prepare them for the national GCE ‘O’ Level examinations or ‘N’ Level
examinations for technical students, which they typically take when they are 16 years-old and
which assess their viability for further education. According to a recent survey by the OECD,
busy 15-year-olds spend nearly 10 hours a week on homework, compared to the global
average of five hours per week. In addition, according to a report on website qz.com, 60% of
high school students attend private, after-school tuition classes, noting “Tuition centers and
coaching colleges range from more affordable neighborhood- and community-based centers
to large national “branded” coaching colleges with outlets in major shopping malls across the
island. The quality of tuition received is very much linked to how much one can afford to pay.
 With the focus of most Teens on academic matters, most have precious little time to pursue
extracurricular activities. Regardless, according to recent government survey data, 73% of
those aged 15 to 19 years-old said they regularly participate in sports activities, with their
favourites being running/jogging, basketball, football, badminton and swimming.
 Teens are typically very conscious of contemporary fashion trends and enjoy shopping for
trendy clothing. On the other hand, according to a survey by website businessinsider.sg,
Teens tend to be less enamoured with brands and more interested in style and price.
According to the survey, less than 5% of respondents said brand mattered most. Twenty-six
percent of Teens said they drew the line at SGD40 per item of clothing, followed by 22% who
said they drew the line at SGD30, while 6.4% drew the line at SGD100. Forty-six percent of
Teens said they shopped with money they earned from various jobs, while 25% said their
parents gave them money to shop.
Chart 5 Teens in Focus 2016-2030

(2) This group includes the population group ‘Generation Z’ (born from 1995-2009)
Young Adults (18-29)

 Twenty-somethings have been delaying marriage and children for a number of years, in large
part a result of paying greater attention to advancing their education and careers. According
to a 2016 article on website straitstimes.com, Young Adults still want to get married but many
are also put off by the high costs: “Many [respondents] said they had to save up before
committing to marriage because of the high costs involved. These include the wedding
reception, buying a house, renovation and children”.
 Whether Young Adults are in higher education or starting their working careers, they tend to
share the same aspirations and anxieties. Results of the 2016 National Youth Survey
revealed “Young Singaporeans are navigating their transition to adulthood in one of the most
globalised countries in the world. They are more open and accepting of diversity, and believe
they have a stake in the future of our nation”. The report added that while the vast majority are
more globalised, “their aspirations remain constant. Their top three ‘very important’ life goals
continue to include having a place of their own (70%), maintaining strong family relationships
(70%) and acquiring new skills and knowledge (65%).
 Unlike their counterparts in other Asian countries, Young Adults in Singapore are relatively
well-positioned to buy their first home. According to a 2017 article on website
straitstimes.com, “The good news is: Singapore millennials do not have to enter the market on
their own. Unlike developed countries where new housing is primarily provided by the private
sector, 75% of the housing units in Singapore are provided by the Government at a
subsidised rate...Singapore millennials can leverage various government schemes and grants
to support their home ownership dreams”. The ability of Young Adults to buy homes has
driven sustained growth in demand for a wide range of household-related goods and services.
Chart 6 Young Adults in Focus 2016-2030

(2) This group includes older consumers in Generation Z (born from 1995-2009) and younger Millennials (born
from 1980-1994).
Middle Youth (30-44)

 For the most part, Middle Youth are working long hours, establishing their careers and many
earning relatively high salaries. In addition, according to recent government data, consumers
aged 30 to 39 years-old are the country’s biggest spenders. In 2016 those aged 30 to 34
years-old recorded an average gross income of SGD51,930, while those aged 40 to 44 years-
old had an average gross income of SGD57,192 (although, of course, a significant proportion
of workers do not earn the average income).
 While a growing number of Middle Youth are remaining single for longer, many begin to
consider marriage and establishing their own households. In 2016 the average age of men at
first marriage reached 30.1 years while the average aged of women at first marriage reached
28.2 years, and once married many couples buy and furnish their first homes, usually flats,
both new and resale flats. Once in their thirties, many couples also begin to think about
having babies if they can afford it.
 The vast majority of parents believe that nearly all school are good schools, but they
nevertheless work to ensure that their Kids get into the best primary schools in order to get
the best education possible, an exercise that often causes household stress. A recent survey
by the Institute of Policy Studies reported by The New Paper revealed that one-quarter of
parents said they had difficulty enrolling their Kids in the school of their choice. In addition,
even when Kids are enrolled the education experience can be trying on parents: “The study
shows that 70.8 per cent of the parents surveyed cited helping children with tests and exams
in school as a cause of stress or anxiety”. Most parents also spend on private tuition for their
Kids.
Chart 7 Middle Youth in Focus 2016-2030
Mid-lifers (45-64)
 On average, younger Mid-Lifers are in their peak earning years, with those aged 45 to 49
years-old enjoying average gross incomes of SGD57,219 in 2016, declining slightly to
SGD55,27 for those aged 55 to 59 years-old. According to recent government data,
household spending among this cohort tends to decline as they get older but it is still
considerable. Mid-Lifers also tend to be responsible for paying off mortgages and car loans
and they often must provide financial support to their children and, increasingly, to their own
parents. Thus, despite relatively high incomes, many Mid-Lifers often find their household
budgets under pressure.
 Singapore’s manufacturing and professional services industries have suffered through a
significant downturn in recent years, leading to an increased number of redundancies. In large
part, it has been middle-aged executives, highly skilled workers and managers who have felt
the brunt of lay-offs. According to data from the Ministry of Manpower, among those given
pink slips during the recent wave of redundancies, 65% were over the age of 40 years-old,
and due to their age and salary expectations, many have faced difficulties finding new jobs.
 According to a recent survey by bank HSBC, 68% of pre-retirees surveyed (those aged 45
years-old and older) said they would like to retire within the next five years, but 48% said they
would be unable to do so, compared to the global average of 38%. “90% say they would
struggle financially (compared to the global average of 81%) because they have not saved
enough, are in debt or have family financially dependent on them. Moreover, 30% of pre-
retirees predict that they will never be able to retire fully, nearly double the global average of
18%. Reasons for not being able to retire include not having saved enough (68% in
Singapore vs. global average of 64%), while 47% (global average is 32%) have dependents
who rely on their income and 26% are in debt (compared to the global average of 22%)”.
Chart 8 Mid-Lifers in Focus 2016-2030
Later-lifers (65-79)
 In 2016 the number of Later-Lifers (aged 65-79 years-old) reached 581,200, accounting for
10.4% of the total population. Between 2016 and 2030 the number of Later-Lifers is projected
to increase by nearly 100%, reaching 1.16 million in 2030 and accounting for 19% of the total
population. It has been estimated that by 2030 Singapore will be the sixth-oldest country in
the world, with older residents significantly shaping the consumer landscape.
 Later-Lifers rely on variety of income sources, including the government-sponsored CPF
Lifelong Income for the Elderly (CPF LIFE) Scheme which provides Singapore citizens and
permanent residents with a monthly pay-out for as long as they live with payment levels
based on the size of their Retirement Account. ? A 2013 study by bank HSBC revealed “Cash
remains a big part of Singaporeans' wealth portfolio. On what makes up retirement income,
the study found that the largest proportion will come from cash savings and deposits which
constitutes a third (34%) of retirement income here, followed by investments (19%), and
property income and assets (12%). This reliance on cash to fund one's retirement income is
reinforced by another finding where over two-thirds (69%) of Singapore respondents expect
cash savings and deposits to contribute towards their retirement income, followed by life
insurance (54%), stocks and shares (37%), and income generated from property (36%)”. The
study also revealed that “Spending more time with friends and family (71%) and taking more
holidays (63%) are the top two most popular retirement aspirations cited by the large majority
of respondents here”.
 The government’s most recent General Household Survey revealed that 6.7% of households
are occupied solely by residents 65 years-old and older, up from 4.6% in 2010. In addition, as
reported on website todayonline.com, “The proportion of the elderly living with their children
dropped from 66.75 to 61.3% [in 2015]. Elderly women were also more likely to live alone or
live with their children without their spouse given their longer life expectancy...Senior research
fellow at the Institute of Policy Studies Mathew Mathews said there will now be public
expectation for amenities in housing estates for the elderly, whether they are for recreation or
care facilities and safety features in homes”.
Chart 9 Late-Lifers in Focus 2016-2030
Chart 10 Life Expectancy for Men and Women and Old-Age Dependency Ratio
Note: Old-Age Dependency Ratio: % of persons older than 65 per persons aged 15-64
Seniors (80+)
 The number of Seniors (80+) has grown by nearly 49% since 2010 to reach 148,300 in 2016.
As a result of rising life expectancy and improved healthcare, the number in this cohort will
continue to grow by a robust 131.4% from 2016 to 2030, reaching 343,100 in 2030
and representing 18% of the total population.
 The Ministry of Health has projected that by 2030 one in every three Singaporeans will need
some form of eldercare service. As family sizes have shrunk and as extended families can no
longer be relied upon to take in and care for their elderly relatives, the Ministry says
the 12,000 beds currently available in nursing homes will not be able to meet demand, and
that more than 50,000 beds will be needed by 2030.
Chart 11 Seniors in Focus 2016-2030
HOUSE AND HOME
the Home Space

 Urban Singapore is a nation of home owners, with nearly all households (93.5%) occupying
flats/apartments. Indeed, the most recent General Household Survey revealed that four-room
flats were the most popular type of dwelling. The survey also revealed that while 80% of
residents live in HDB (Housing and Development Board) flats. The number of those living in
apartments has driven sustained demand for smaller household durables that fit the reduced
spaces, including furniture, white goods and other household-related items.
 In recent years housing prices have been declining and many prospective home owners have
begun to shop around, encouraged by low interest rates that have spurred demand for
mortgages. In addition, eligible consumers, particularly first-time buyers, can take advantage
of a number of subsidies to help them buy government-built flats. A recent article in The
Economist magazine noted “First- and second-time buyers get money through government
grants, regardless of whether they buy new or old flats. Quotas ensure that the mix of
Chinese, Indians and Malays in each HDB block reflects the ethnic make-up of the country as
a whole, a measure designed to preclude the formation of racial enclaves”. In addition, priority
is given to married couples, with singles only eligible to buy HDB flats once they reach the
age of 35 years-old, meaning most young, single Singaporeans stay in the family home until
they marry.
 Generally, spending on home renovation has declined in recent years, particularly as young
first-time home buyers tend to have little left over in their budgets for renovating. On the other
hand, they often make their mark on their homes through their choices of interior design and
furniture. According to a 2015 survey by website qanvast.com/sg, the most popular furniture
styles among young home owners are modern (cited by 27% of respondents), contemporary
(17%), Scandinavian (14%), industrial (12%) and eclectic (10%). A 2017 article in The New
Paper revealed that, due to more attractive prices as a result of currency fluctuations, a
growing number of young home owners are crossing the border to shop for furniture in Johor,
Malaysia.
 In 2016 the Housing and Development Board launched a number of trials in order to
determine demand for ‘smart’ technology in homes. Private developers have also begun
investigating the appeal of smart home devices. A 2016 survey of young home owners by
developer Qingjian reported on website homeanddecor.com.sg revealed that 79% of young
couples ranging in age from 20 to 40 years-old said they would be open to living in homes
enabled with smart technologies, with 63% saying they would be willing to pay SGD30,000 to
SGD40,000 to furnish their homes with smart devices. “Convenience, energy efficiency and
safety were among the most appealing features of a smart home, according to the survey
results,” the report noted.
Chart 12 Households by Type of Dwelling; Number of Home Owners with and without a
Mortgage 2016-2030
Source: Euromonitor International from national statistics
Chart 13 Households by Type 2016
Running Costs
 Between 2011 and 2016 consumer expenditure on electricity declined by 17.6% (in real
terms), reaching SGD1,244 per household in 2016. Residential electricity tariffs are revised
every quarter according to the results of reviews by the Energy Market Authority which takes
into account the most recent costs of producing and distributing electricity to residents. The
intention is to ensure consumers are not overcharged or locked into long-term expensive
tariffs. Consumers are also reducing their electricity consumption through the use of more
energy-efficient household appliances. They are assisted in their purchase decisions of air
conditioners and refrigerators—appliances that account by far for the bulk of Singapore
household energy consumption—by Energy Labels affixed to the products, mandated under
the Environmental Protection and Management Act in 2008. Gas is used far less often by
households as an energy source, reflected by consumer spending of SGD173 per household
in 2016.
 A growing number of households are taking advantage of Singapore’s generally sunny
weather and installing solar panels of their roofs to reduce their electricity bills. Discussing the
price of installation in a recent article on website homeanddecor.com.sg, Zachary Wang from
Rezeca Renewables, a solar energy equipment supplier, said “Generally speaking, it is
around SGD10,000 for an inter-terrace unit, SGD20,000 to SGD30,000 for a semi-detached
home, and upwards for a larger home”. He noted “The only maintenance is to keep the panels
clean,” adding “With larger solar PV systems, customers can ‘recoup’ their investment in as
little as six years or seven to eight years for standard-size systems”.
 In an effort to reduce household water consumption, in 2017 the government announced that
water prices would be increased for the first time in 17 years, rising by 30% in two phases.
According to a report on website todayonline.com, water policy expert Eduardo Araral at the
Lee Kuan Yew School of Public Policy said the increase in water prices is “long overdue,”
adding that raising water tariffs is “a form of buying insurance, given the reality of climate
change and the recurring droughts we now experience”. He also said that “While there should
be measures to cushion the impact on poorer households...middle and higher income
households will not feel the pinch. According to data on Singapore Power’s website, the
average water consumption of a five-room HDB household was 17.7 cubic metres in
December [2016]— a bill of about SGD27 before Goods and Services Tax. If prices rise by
25% to compensate for inflation since the last revision, it is roughly the cost of a meal in the
hawker centre”.
Chart 14 Household Running Costs 2016-2030
Source: Euromonitor International from national statistics/UN/OECD

Note: In constant 2016 prices
SPENDING AND SAVING
Attitudes Towards Spending

 Following a period of declining consumer confidence, a result of the precarious economic
landscape, consumer expenditure rebounded between 2013 and 2014 before dipping again
(in real terms) in 2016. Regardless, household income and spending were still high in 2016
compared to neighbouring countries, with disposable income per household reaching
SGD129,275 (reflecting a decline of 1.2% from prior year in real terms) while consumer
expenditure per household reached SGD90,011 (reflecting a decline of 1.7% from prior year).
According to a 2017 article on news website bloomberg.com, consumer spending will be
sluggish in the short term as “unemployment is rising, wage growth is slowing and household
debt is increasing,” factors that will make consumers wary to spend.
 Despite recent reports of growing household debt, declining consumer confidence over recent
years prompted many debt-averse consumers to avoid borrowing to pay for their purchases.
In particular, the outstanding balance of auto lending declined by 48% (in real terms) between
2011 and 2016 while durables lending declined by 45%. Among those that still use their credit
cards, a growing number are paying off their balances every month.
 A 2017 survey by PayPal reported on website sgsme.sg revealed that, while consumers live
in one of the most digitised environments in the world, most still believe that cash is king when
it comes to spending. Indeed, 90% of respondents said they prefer cash as their primary
method of payment. According to the survey, “When asked which payment method they used
most often, 43% said they use cash, compared to 3% who use e-wallets or mobile wallets,
and 2% who use contactless payments via mobiles. And, this is despite the problems they
cited with using cash, including: having insufficient cash on hand (44%), facing long queues at
automated teller machines or ATMs (44%) and ATMs not being easily accessible (34%)”.
 A growing number of consumers, particularly young consumers, use their credit cards when
shopping for larger purchases but, due to the popularity of the contactless payment option,
they are turning to their debit cards and prepaid cards for spending on smaller purchases,
such as payments at shops, diners and petrol stations. A report on website
smartrailworld.com noted that in 2016 the Land Transport Authority launched a pilot
programme that allowed registered consumers “the convenience of tapping their existing
contactless credit and debit cards to pay for train and bus journeys, eliminating the need for a
separate transit card and fare top-ups”.
 In 2016 Singapore’s score on the Gini Index, which measures income inequality, reached
45.8%, meaning that the country was in the more or less the same ballpark as many other
developed nations. However, according to a recent article on website dollarsandsense.sg,
there are several factors that mean that less affluent Singaporeans are finding it very difficult
compared to consumers in other nations. “Living in Singapore is expensive. Our cost of living
is comparable to some of the most expensive cities around the world. And unlike other
countries; our locals do not have any cheaper rural alternative to relocate unless they intend
to migrate out of Singapore. It’s not like the food and clothes are cheaper in Pasir Ris
compared to Bukit Timah,” noted the article. In addition, after analysing spending by income
group, the article concluded “The scary observation here is that the lower income group are
actually spending more than they earn. Even though they are still spending less than the rest
of Singapore from an absolute value point of view, they are still spending more than 100% of
their income”.
Attitudes Towards Savings

 Consumers have traditionally been savers—the savings ratio has hovered around nearly 30%
since 2011—but, according to the most recent Aviva Consumer Attitudes to Saving survey
reported in The Business Times, 53% of respondents said they were still “worried that they
will not have enough money when they retire to provide an adequate standard of living”. The
survey went on to note that 69% said they save for retirement through the government’s
Central Provident Fund (CPF) schemes, 64% said they save via bank deposit or savings
accounts. 53% said they save via savings products from banks or insurance companies, 37%
said they save through direct investments, such as shares and mutual funds and 28% said
they save through property investments. Survey results also revealed that most consumers
(36%) planned for their retirement funds to last for 10 to 15 years while 32% planned for their
funds to last 20 to 25 years.
 Consumers also use the government’s Central Provident Fund (CPF) schemes to save for
events and situations other than retirement. According to a recent article on website
fin24.com, “In the CPF individuals can determine whether to use their savings to fund their
housing, their (or their children’s) further education, their health (with options for basic medical
coverage, additional hospital coverage for emergencies and post-retirement frailcare
demands), their investments, their income protections, a top-up of other family members’
retirement or medical coverage, or ultimately, longevity insurance”.
Chart 15 Disposable Income and Savings 2011-2016

Note: in constant 2016 prices
SHOPPING
Main Household Shop

 While the popularity of online grocery shopping continues to grow, most consumers still prefer
to do their main household shopping in brick-and-mortar grocers, according to recent data
from the Singapore Department of Statistics (SingStat) reported in 2016 on website
straitstime.com. Indeed, government figures revealed that spending on groceries reached
SGD2.3 billion, nearly twice the spending in 2005. “This is the highest spending in a decade,”
according to the report, “which experts say may be due to higher costs of goods, an increased
willingness to spend on quality and a rising interest in home cooking”. Supermarkets are also
offering a wider range of products, spurring demand. “Housewife Noor Jahan, 51, said the
supermarkets near her home in Pasir Ris have begun to stock items such as bread flour,
imported cream and herbs like rosemary and sage. This means she can now make more
varied cuisines for her family of five,” according to straitstimes.com. She added "Last time,
you had to go to upscale supermarkets for such ingredients, but I can make dishes like
lasagna and cheesecake mousse from scratch. There are a lot more halal ingredients than
before, too".
 Between 2011 and 2016 the value sales of food and drink internet retailing increased by
136% (in real terms), with sales growing by 23% between 2015 and 2016 alone. In a report on
website todayonline.com, Joel Sng, co-founder and CEO of new market player honestbee
said “Stores have a finite amount of hours in which they stay open. There are some that are
24 hours these days. But the stores are also very large ... We have close to 20,000 products
that you could browse through on your tablet, or phone or your computer, and to do that in a
physical store is going to be quite tiring. Being able to buy at midnight or 2am in bed or in the
toilet, anywhere, that’s not a problem. You don’t have to dress up, you don’t have to travel
and you don’t have to lug it back home”. Older consumers looking for convenience are among
the primary drivers of growth. In addition, brick-and-mortar chains have responded to growing
consumer demand by launching their own online shopping options, adding to sales growth.
 Consumers have become increasingly more health-conscious, and while food shopping they
have been helped in their efforts to improve their diets by the ‘Healthier Choice’ symbols that
appear on a wide range of packaged food products on supermarket shelves. Introduced on
300 products in 2001 by the Health Promotion Board (HPB), the symbol can now be seen on
about 2,600 different food products in more than 60 food categories, ranging from staples
such as rice and bread to ready meals, cooking sauces and beverages. Joanna Chan,
director of HPB’s Obesity Prevention Management division, recently told The Straits Times
that sales of food products with the Healthier Choice symbol are growing by 9% annually, and
that consumer demand is projected to continue to grow.
Chart 16 Main Household Shop by Retailer Type: 2016
Source: Euromonitor from trade sources/national statistics

Note: In Constant 2016 prices
Shopping for Big-ticket Items and Personal Goods

 Consumers still tend to shop for both big-ticket items and personal goods in brick-and-mortar
stores rather than online. According to the results of a 2015 survey by consultancy CBRE
Group reported on news website straitstimes.com, 56% of respondents said they preferred to
buy non-food items in-store, with 85% saying they visited physical stores at least once a
month. Helen Khoo, executive director of WingTai Asia, said "Shopping isn't just about buying
something, it is about socialising and experiencing". Letty Lee, CBRE's director of retail
services, said "All the buzz around e-commerce gives the impression that physical stores are
on their way out, but this is not true. The physical store remains the vital piece to the shopping
puzzle".
 Demand for major household appliances has increased steadily in recent years, reflected by
volume sales rising by nearly 15% between 2011 and 2016. For the most part, increased
consumer demand has been driven by the nearly 11% growth in the number of new
households across the country over the same period. Continuing growth in demand for major
appliances will depend on sustained growth in the number of households being built in coming
years, but the reluctance of price-conscious consumers in existing households to upgrade to
new appliances may temper growth. Similarly, consumers are buying fewer new cars, keeping
their current models for longer.
 When shopping for personal items consumers are increasingly preferring to buy local brands,
based on their perception that local brands ‘appreciate’ their loyalty more than international
brands. The results of a recent survey by consultancy ICLP reported on the website
thedrum.com revealed “Singaporean consumers feel that local brands value them more (26%)
as opposed to international brands (19%)”. Bruno Tay, ICLP country manager, said “We are
seeing the emergence of true ‘local heroes’ –home grown brands that are outperforming
renowned international brands in listening to customers and making them feel valued”.
Shopping Online
 Despite consumers cutting back on discretionary spending in recent years, the popularity of
internet retailing continues to grow at a robust rate, reflected by value sales per household of
internet retailing growing by 108.5% (in real terms) between 2012 and 2016 and growing by
nearly 31% between 2015 and 2016 alone. According to a 2016 survey by PwC reported on
website todayonline.com, 60% of consumers surveyed said they buy products online at least
once a month. The results of a recent study by Singapore Polytechnic reported on website
insideretail.sg revealed that men spend more while shopping online but that women shop
online more frequently. “For males, apparel, technology and movies are the top purchases,
while women prefer apparel, beauty products and travel,” according to the report.
 The proliferation of smartphones—79% of households possessed smartphones in 2016
compared to 61% in 2012—has boosted mobile internet shopping, reflected by value sales
per household rising by nearly 30% (in real terms) between 2015 and 2016. The increase in
the number of retailing apps has also changed the way many consumers shop in-store, with a
growing number not only buying via their phones but comparing product features and prices
and checking for promotions and special deals while browsing store aisles.
 Perhaps not surprisingly for consumers in a small nation, cross-border online shopping is very
popular. Indeed, according to a 2016 study by Pitney Bowes reported on website
insideretail.sg, 89% of Singaporean online shoppers have purchased products from foreign
sites. In particular, a growing number of online shoppers have recently embraced the Black
Friday and Cyber Monday sales events, looking for bargains from US-based internet retailers.
Consumers use convenient international forwarding and shipping services to make sure they
get their purchases quickly.
Chart 17 Internet Retail Spending: 2016
Source: Euromonitor from trade sources/national statistics

EATING AND DRINKING
Eating Habits
 Singapore is a multi-ethnic country and its cuisine reflects many culinary influences,
particularly Chinese, Indian and Malay. In recent years, busy consumers and their families
have increasingly eschewed preparing traditional dishes at home and instead opted for more
convenient processed foods or to simply dine out. A 2015 survey of eight major cities by IKEA
reported on website reach.gov.sg revealed that only 22% of Singapore respondents said they
cook every day. The report added “More than a third of Singaporeans also said they enjoy
cooking with others,” but they “said the biggest obstacle to doing so is finding the time. Others
pointed to the convenience of takeaway food (29%) and lack of cooking skills (25%)”.
 Busy consumers dine out often and they can take advantage of a wide range of dining
venues. According to the results of a 2017 study reported in the International Journal of
Behavioral Nutrition and Physical Activity, “Participants reported a high eating-out frequency
with 77.3% usually eating either breakfast, lunch or dinner at eateries. Main venues for eating-
out included hawker centres (61.1% usually ate at least 1 of 3 daily meals at this venue) and
school/workplace canteens (20.4%). A minority of participants (1.9%) reported usually eating
at Western fast-food restaurants. Younger participants and those of Chinese and Malay
ethnicity compared to Indians were more likely to eat at Western fast-food restaurants.
Chinese and employed persons were more likely to eat at hawker centres. The ready
availability of a large variety of affordable and appealing foods appeared to be a primary
driver of eating out, particularly at hawker centres”.
 Singapore has a vibrant street food culture with a wide range of on-the-go food sold by
‘hawkers’. According to a 2016 article on website straitstimes.com, “Singapore's hawker
culture, which dates back to the 1800s, has been celebrated by scholars and writers both
local and foreign. Today, the city state has more than 14,000 licensed hawkers across 110
hawker centres and markets, with about 6,000 cooked food stalls in hawker centres. And by-
and-large, hawker centres are still dishing out tasty meals at relatively affordable prices”.
Typical hawker dishes include chicken rice, fishball noodles, laksa noodle soup and mee pok,
another noodle dish.
 Health-conscious diners have benefited from the Healthier Dining Programme, launched in
2014 by the Health Promotion Board (HPB) to promote healthier choices for consumers who
choose to dine out in restaurants, cafes, food kiosks and caterers, and food courts. Through it
partnerships, HPB reported that as of end of March 2017 the number of healthier meals sold
had increased three-fold from 7.5 million in 2014 to 26 million. In 2017 the programme was
extended to include hawkers centres and coffee shops. According to HPB, it aims “to ensure
that by 2019, four in ten stalls in every hawker centre and coffee shop in Singapore will have
at least one healthier food option on their menu”.
Chart 18 Consumer Spending on Food by Type: 2016
Source: Euromonitor from trade sources/national statistics/Eurostat/UN/OECD

Chart 19 Total Spending on Food and Spending on Food per Household: 2016

Drinking Habits
 Like consumers in neighbouring Asian countries, Singaporeans enjoy drinking alcoholic
beverages when socialising and celebrating. On the other hand, in an attempt to clamp down
on public disorders and other issues related to drinking, in 2015 the government passed the
Liquor Control (Supply and Consumption) Act which banned drinking alcohol in public places
and banned retailers from selling off-trade alcohol between 10:30pm and 7am. Consumers
drinking during these hours at pubs, clubs and other venues that serve on-trade drinks are not
affected by the new law. The legal drinking age remains 18 years-old.
 Despite the increasing popularity of cocktails among younger consumers (along with their
constituent parts of vodka, gin and whiskies), beer is by far the most popular alcoholic drink in
volume terms, with annual consumption reaching 27.7 litres per capita (at legal purchasing
age) in 2016. In contrast, while consumption of wine increased by 18.2% between 2011 and
2016, it nevertheless reached only 2.5 litres per capita in 2016. Like other social activities on
offer in Singapore, going out for a beer with friends can be an expensive proposition.
According to the results of the 2016 GoEuro Beer Price Index, which compares 75 major
cities worldwide, a can or bottle of beer (330ml) at bars in Singapore costs on average
US$9.33 while buying the same at a supermarket costs on average US$2.16, making
Singapore the third most-expensive city for buying beer.
 While men have traditionally been the primary consumers of alcoholic drinks, women are
increasingly imbibing and finding a place at the bar. Female drinkers tend to prefer lighter
drinks, sometimes flavoured, and that has driven greater demand for such drinks as white and
sparkling wines and lighter whiskies.
 Demand for traditional Asian specialty drinks has remained tepid as consumers turned to
modern alternatives. Consumption of bottled water has grown in recent years as health-
conscious consumers increasingly turned away from carbonated soft drinks, a result in part of
government efforts to promote healthier diets—at government urging major soft drink
manufacturers pledged in 2017 to reduce to 12% all sugar in their products sold in Singapore
by 2020—but consumption of carbonates was still more than twice that of bottled water.
 Consumers have traditionally preferred instant coffee over fresh coffee, but a growing number
of increasingly sophisticated consumers, particularly younger consumers, are switching to
fresh coffee, preparing the drink more frequently at home and buying it more often while on-
the-go. Indeed, according to recent data from the International Coffee Association, Singapore
ranks seventh in the world in terms of number of Starbucks outlets per capita. Health-
conscious consumers are driving growing demand for tea, especially as new blends are
introduced, but consumption of tea is still only 37% of that of coffee.
Chart 20 Consumer Spending on Drinks by Type: 2016

Chart 21 Total Consumer Spending and Spending on Alcoholic and Non-Alcoholic

Drinks: 2016

GROOMING AND APPEARANCE
Investing in Yourself: Female Personal Grooming and Hygiene

 In large part women take a great interest in their appearance and there has been growing
demand for both premium and mass-market beauty and personal care products in recent
years. Analysis in 2016 reported on website trade.gov noted “The image-conscious and
affluent woman, who places a high priority on personal grooming and appearance, continues
to drive demand for cosmetics, toiletries and fragrances in Singapore across all product
categories. Hydration, protection and convenience are key themes and more consumers are
seeking products that offer these in their skincare and cosmetics,” adding “The young and
trendy are also experimenting with more unique color products (both make-up and hair) to
differentiate themselves from their peers”. The report also noted that busy, working women
have driven increased demand for multi-functional products, particularly products that
combine anti-aging, brightening and skin lightening features.
 Skin care continues to be of particular interest to female consumers, reflected by value sales
of skin care product increasing by 3% (in real terms) between 2015 and 2016. In addition,
value sales of sun care products increased by 5.3% over the same period. A 2017 survey by
website dailyvanity.sg revealed that the key concern of most women (73.4%) were
blackheads and whiteheads, followed by dark eye circles (61%), acne and scars left behind
by pimples (60%), dull and tired-looking skin (52%) and visible enlarged pores (48%).
 The 2017 survey by website dailyvanity.sg also revealed that “88% of respondents are
inclined towards Korean beauty culture and trends. The next most popular beauty culture they
look towards is American beauty trends, although more women who are above 35 years old
look up to Japanese beauty”. At the same time, there has been significant growth in recent
years in the availability of home-grown beauty products catering to local beauty and personal
care concerns and consumers have responded.
 Women have tended to wear fashionable clothing but in recent years many consumers have
become more price-conscious, prompting them to look for alternative ways to keep well-
dressed. Among these options are clothing rental centres, which have become very popular,
changing the way many women shop, particularly women with limited budgets and younger
women who have adopted the tenets of the sharing economy. A 2017 article on website
straitstimes.com noted “[Rental centres] say that they cater to a new market of practical
shoppers - professional working women in their late 20s to early 40s who realise that renting
affords them an unlimited wardrobe at a low cost”. One young consumer, Olivia Victoriana,
said "Renting definitely helped me to cut my shopping budget and save money. I shop about
once every two months now," paying a subscription of SGD129 a month that allows her to
rent three outfits at a time.
Chart 22 Consumer Spending on Clothing, Footwear and Personal Care: 2016
Source: Euromonitor International from national statistics/Eurostat/UN/OECD
Investing in Yourself: Male Personal Grooming and Hygiene

 There has been sustained demand for male-specific grooming products, driven by
consumers, particularly younger consumers, who increasingly appreciate the effort to improve
the way they look and value the role their appearance plays in advancing their professional
and social lives. A report on website trade.gov describing the growing number of Singapore
men showing an interest in grooming products noted “They recognize that looking good is as
much about feeling good and this translates to boosted confidence”.
 Men are not only buying more products to add to their grooming regimens at home but also
increasingly using the services of stylists and salons outside the home, as well. A 2017 article
on website straitstimes.com described the rise of premium barbers and their growing number
of customers, noting “These outfits, catering mostly to men in their early 20s to late 30s,
charge SGD30 to SGD55 for a haircut and SGD23 to SGD45 for a hot towel shave. A haircut
takes 45 to 60 minutes - a point a growing number of men appreciate, say business
owners...In return, customers get a relaxing atmosphere and a cut from a barber well-versed
in classic men's styles”.
 While men have been driving demand for a wide range of male-specific grooming products,
they have shown particular interest in skin care products. In addition, according to many
dermatologists, a growing number of men are undergoing treatments to improve their skin
condition. In a recent interview on website tnp.sg, Dr Low Chai Ling of The Sloane Clinic said
"We are definitely seeing more men seeking aesthetic procedures over the past few years,
increasing at least 20 to 30 per cent year-on-year...There is less stigma associated to
grooming and aesthetic treatments for men, and this has opened the doors for them".
Similarly, more men are undergoing Botox treatments to improve the look of their skin. In a
2017 article on website straitstimes.com, 42-year-old actor Kevin Ang said the results of
Botox treatments “are more lasting than what one gets from skin therapy at a spa...adding
that he knows he is in safe hands as doctors have to comply with strict Singapore Medical
Council regulations” According to EHA Clinic medical director Elias Tam, in 2017 men
accounted for 20% of the clinic’s patients compared to 5% in 2012.
Chart 23 Consumer Spending and Spending on Clothing Footwear and Personal Care:
2016
Style Icons and Celebrity Influences

 Singapore boasts a very active blogging environment, with Instagram the favourite platform,
and numerous consumers turn to online fashion and style gurus to get tips on what to wear
and what beauty products to buy. Among the most popular, according to a report on website
lifestyleasia.com, are Rachel Wong, Isabel Tan, Roanne T, Roseanne Tang and Leanne Ho.
Other popular bloggers include Viola Tan and Rachel Lim, co-founders of Singapore-based
clothing line Love Bonito. According to website menswearsingapore.com, among the most
influential men’s fashion bloggers are Daryl Laiden and Collin Goh.
 Consumers have recently joined their contemporaries in neighbouring Asian countries by
driving strong demand for fashion from South Korea, according to a 2016 article in The Straits
Times. And, as has been the case in those other countries, the popularity of Korean fashion is
expected to grow stronger in coming years. “The popularity of K-fashion, say industry
watchers, was in part fuelled by the hype surrounding all things Korean here - its dramas,
music and food, as well as by its celebrities”. Samuel Tan, course manager of retail
management in Temasek Polytechnic's School of Business, said "The popularity is largely
due to Korean celebrities who command much influence on fashion trends, such as musician
G-Dragon and actor Kim Soo Hyun from the Korean drama, My Love From The Star".
HEALTHY AND ETHICAL LIVING
Attitudes To Health and Wellbeing

 Healthcare consumers are responsible for paying for much of their own healthcare expenses
via their government-operated individual health savings accounts. Describing the system, a
recent article in the New York Times noted “Singapore’s health system also has a mix of
public and private health care delivery organizations. There are private and public hospitals,
as well as a number of tiers of care. There are five classes: A, B1, B2+, B2 and C. ‘A’ gets
you a private room, your own bathroom, air-conditioning and your choice of doctor. ‘C’ gets
you an open ward with seven or eight other patients, a shared bathroom and whatever doctor
is assigned to you. But choosing ‘A’ means you pay for it all. Choosing ‘C’ means the
government pays up to 80% of the costs”.
 A recent survey by the National University of Singapore Yong Loo Lin School of Medicine
reported on their website sph.nus.edu.sg noted “The general sentiment [of respondents] was
that healthcare costs are expensive...While a large majority of the respondents (90%) agreed
that healthcare financing was their personal responsibility, only 48% of respondents
expressed confidence in being able to afford healthcare in the future, citing high out-of-pocket
costs as the reason”.
 Demand for healthier food and beverages has been on the rise among consumers in recent
years, reflected by value sales of organic food increasing by 18.7% (in real terms) between
2011 and 2016 and value sales of ‘free from’ foods increasing by nearly 33%. In a recent
interview in The Straits Times, Celeste Viviers, a registered dietitian and owner of nutrition
and wellness consultancy Nutrilicious, observed “The spending power in Singapore has also
allowed more people to purchase organic products with ease”. Evelyn Eng-Lim, director of the
Green Circle organic farm, said sales had increased by nearly 50% over the past five years,
adding “There is also a more diverse range of customers now...A majority of our customers
used to be expats, but now half of them are local”.
 A growing number of busy consumers are turning to vitamins and dietary supplements in an
effort to enhance their health and wellbeing, reflected by value sales increasing by 21.6% and
11.4%, respectively, between 2011 and 2016. A recent report on website todayonline.com
described one typical case: “In the hope of enhancing her general health, Madam Susan Tan
has been taking a multivitamin and fish oil supplement every day for the last three years... ‘I
don’t always eat well due to my hectic work schedule. If I can get my vitamins quickly and
easily from a pill, why not? I hope that the extra health boost can keep me healthy and
prevent illnesses as I age,’ she said”.
Chart 24 Health of the Nation 2016 – 2030

Note: In Constant 2016 prices
Chart 25 Percentage of the Population Overweight or Obese
Ethical Living
 In a 2016 interview on website todayonline.com, Militza Maury, the founder of website
littlegreendot.com, observed “The eco-conscious movement [in Singapore] has grown in leaps
and bounds over the past five years,” adding “I think that we went through a period where
Singapore grew and (became) modernised very quickly, and everybody wanted the best and
the newest things. But now people are taking a step back and looking at their choices with
fresh eyes”. She noted that it is not only younger consumers who are become more aware: “I
see so many young parents becoming aware of the products that they use around their
family—conventional cleaning and skincare products filled with chemicals. They’re looking for
healthier options for their children and themselves. But at the same time, I see grandparents
becoming more interested in reconnecting with their heritage and going back to a simpler,
greener lifestyle. I believe that this is a national shift in awareness and it’s going to continue to
grow”.
 Although still a small cohort, a growing number of consumers are nevertheless turning to
vegan and vegetarian diets. In 2016 Singapore was named by People for the Ethical
Treatment of Animals (Peta) as the second most vegan-friendly city in Asia, noting “Peta
loves Singapore for its top-notch cruelty-free grub that satisfies appetites while being kind to
animals". The organization went on to report that consumers can now easily find both fast
food and traditional dishes in meat-free, plant-based versions in numerous outlets.
 Despite growing awareness of ‘green’ issues, a significant number of consumers still focus
instead on price and convenience when shopping. The popular supermarket chain CarePrice
recently banned small, single-use plastic bags for shoppers to carry their items. According to
a 2017 report on website eco-business.com, the chain implemented the ban “as part of a
campaign to improve the brand’s credentials among environmentally-conscious young
Singaporeans... But the move appears to have backfired, with complaints flooding the
company’s social media channels”. Comments on social media included the ban being
labeled “an infringement on our right to convenience”. Paul Yew Shen, president of the
Singapore Plastics Federation, said “Singapore is a first world country. Our citizens can’t be
expected to carry small items with their bare hands”. The store said it would review its
decision to ban the bags.
Sport and Fitness

 The most recent Sports Index Participation Trends survey compiled by Sport Singapore
revealed that the top physical fitness activity of Singaporeans is walking for health or fitness,
cited by 23.2% of respondents, followed by outdoor jogging/running (20.4%), swimming (8%),
workouts or exercises with gym equipment (6.4%) and badminton (5.7%). The report noted
“Not surprising, participation improves with better economic status, household income, and
dwelling type”. The report also revealed that football, swimming and badminton are the most
popular spectator sports.
 In large part, Singaporeans believe that they are healthy and fit, but recent surveys indicate
that they may be overly optimistic. For example, insurer Prudential Singapore’s 2017 Health
Literacy Poll revealed that while 50% of respondents said they were physically active, 81%
said they do less than the recommended 150 minutes of moderate exercise per week and
85% said they do less than the recommended 75 minutes of vigorous exercise per week.
Among the reasons that consumers mistakenly categorise their fitness level, according to
Prudential Singapore, “could be the low level of awareness among Singaporeans about what
constitutes healthy living”. Among those who acknowledged that they may not be living
healthy lives, 55% said they were hindered by lack of self-motivation and 48% said they
lacked time.
 Swimmer Joseph Schooling winning the gold medal in the butterfly stroke at the 2016
Olympics—Singapore’s first gold medal in any Olympic sport—captured the nation’s
imagination and has, in turn, boosted new enrollment numbers at children’s swimming
schools. More broadly, however, there has been a growing interest in getting more children
engaged in physical activities at earlier ages in order to encourage greater levels of fitness as
they get older. In response to concerns, the government reported in 2016 that “At the pre-
school level, the Early Childhood Development Agency (ECDA) will require the minimum daily
time for physical activities for full-day programmes be increased to an hour daily [up from the
previous requirement of 30 minutes], of which half an hour is to be conducted outdoors”.
LEISURE AND RECREATION
Leisure Time
 According to website sgn.sg, among the most popular leisure activities is shopping, not only
on the famous Orchard Road but in neighbourhood shopping destinations, as well. “All major
public housing estates in Singapore also have their own ‘heartland’ malls,” notes the website,
“making shopping and weekend dinners a breeze for the family. They are often situated within
walking distance and are also well-connected by public transport”. Other popular leisure
activities include going to the cinema and visiting the country’s numerous museums, art
galleries and performance spaces. There are also popular outdoor leisure options. “One of the
best ways to have a leisurely and rejuvenating experience is to indulge in some of the best
leisure attractions in Singapore which include, parks like Singapore Botanic Gardens, East
Coast Park, National Orchid Garden and beaches like Sentosa and Padang,” according to
website triphobo.com.
 Recent research indicates that the prevailing belief among many busy Singaporeans is that,
due to the amount of time they spend at work, they have little enough leisure time to spend
with their families. A 2016 survey by the Families for Life Council revealed that one-half of
respondents said they spend 35 hours a week with their immediate family members while
10% said they spend six hours or fewer per week. In addition, one-half said they spend two
hours or fewer with members of their extended families. The survey also revealed that the
favourite family activity was having family meals together, cited by 96% of respondents,
followed closely by celebrating family occasions together (95%), having ‘heart to heart’ talks
with family members (94%), going on family vacations (91%) and going to free family events
(81%).
 Gathering around the TV set and watching scheduled broadcasted programmes has
traditionally been a popular at-home leisure activity, but due to the growing number of
streaming and online options household members are now increasingly watching when they
want to watch and where they want to watch, often on digital devices. In addition, a significant
number eschew TV altogether and spend their leisure time online, in particular spending time
on social media sites. According to the 2016 Digital Yearbook compiled by We Are Social,
82% of Singaporeans are active internet users and 64% are active social media users.
Chart 26 Household Possession of Selected Home-Tech and Mobile Phones 2016;

Percentage of Households with Internet Access
Source: Euromonitor International from International trade sources/Telecommunications Union/OECD/national

statistics
Chart 27 Consumer Expenditure and Spending on Leisure and Recreation 2016 – 2030
Vacations
 In addition to 11 public holidays, Singaporeans are entitled to 11 days of annual leave for
workers with five years of tenure and 14 days for workers with eight or more years of tenure.
According to a recent survey the Department of Manpower, 35% of firms provide workers with
more days than the 14 mandated by law. A recent survey by Expedia revealed that most
consumers use nearly all of their allotted vacation days every year but, nevertheless, 71% of
respondents said they consider themselves ‘vacation deprived’.
 Due to the country’s geographical circumstances, fewer consumers choose domestic
holidays, with most tending instead to go abroad. Malaysia is the top destination for holiday-
makers. Thailand is also a popular holiday destination, and it is expected to see even more
travellers visit in coming years due to the recent introduction of automatic immigration
clearance for Singaporeans. Alicia Seah, director of public relations and communications at
Dynasty Travel, told The Straits Times “Singaporeans like to visit Thailand for a wide variety
of reasons, like praying, shopping, finding good food or just for a short getaway".
 Due to their long working hours, most Singaporeans look forward to three-day holiday
weekends whenever they occur on the calendar. David Ang, director of corporate services at
human resource firm Human Capital Singapore, told website straitstimes.com "With a very
active work and personal life situation, and without much of a hinterland for recreation,
Singaporeans welcome long weekends for their holidays”. Jason Chao, a 27-year-old
engineer, said he looks forward to his short breaks, adding "I will definitely use the long
weekends for short trips to Batam to relax and unwind. I might even travel further to places
such as Taiwan".
Chart 28 Consumer Expenditure and Consume Expenditure on Package Holidays

2016-2030
Opportunities for Celebrations and Gift-giving

 Singapore is a diverse, multi-ethnic country and, as a result, residents enjoy a wide range of
celebrations and holidays. Christmas, of course, is an important gift-giving occasion, not only
for Christians but for non-Christians, as well. In addition, traditional Red Packets with money
are given to children on Chinese New Year, duit raya, green envelopes with gifts of money
are given to children and the elderly on Hari Raya Puasa (gifts are also given to children
during Hari Raya Haji) and gifts and sweets are given during Deepavali, the Indian Festival of
Lights. Other occasions when many give gifts include Mother’s Day and Father’s Day. Gifts
are also given to celebrate weddings and other social events. Valentine’s Day is celebrated
“with utmost zeal and fervor” in Singapore, according to website stvalentinesday.org.
 Singaporeans frequently send greetings cards, particularly during the Christmas season but
also on holidays such as Valentine’s Day, Mother’s Day and Teachers’ Day. Despite the
growing popularity of e-cards, particularly among younger consumers, according to a report
on website straitstimes.com there is nevertheless a significant number of consumers who still
insist on sending paper cards. Loh Soon Leng, managing director of Precious Thots, a leading
greeting card and gift company, said “Customers told us they prefer to send real cards, which
are more sincere and personal. They can also use the cards to decorate their tables and
homes".

Consumer Lifestyles in Singapore

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CONSUMER LIFESTYLES IN

LIST OF CONTENTS AND TABLES

Main Household Shop ............................................................................................................ 17

Source: Euromonitor International

TOP FIVE CONSUMER TRENDS

Consumers Still Reluctant To Spend But Becoming More Optimistic

Despite Consumer Spending Cuts Popularity of Online Shopping

Growing Number of Affluent Older Consumers Set To Greatly Influence

Consumers Increasingly Choosing To Live Healthier Lifestyles

High Home Ownership Rate Spurs Increased Demand for Mortgages

Babies and Infants (0-2 Years)

Chart 2 Babies and Infants in Focus 2016-2030

Source: Euromonitor International from national statistics/UN

Chart 3 Kids in Focus 2016-2030

Source: Euromonitor International from national statistics/UN

Chart 4 Tweens in Focus 2016-2030

Source: Euromonitor International from national statistics/UN

Chart 5 Teens in Focus 2016-2030

Source: Euromonitor International from national statistics/UN

Young Adults (18-29)

Chart 6 Young Adults in Focus 2016-2030

Source: Euromonitor International from national statistics/UN

Middle Youth (30-44)

Chart 7 Middle Youth in Focus 2016-2030

Source: Euromonitor International from national statistics/UN

Chart 8 Mid-Lifers in Focus 2016-2030

Source: Euromonitor International from national statistics/UN

Chart 9 Late-Lifers in Focus 2016-2030

Source: Euromonitor International from national statistics/UN

Source: Euromonitor International from national statistics/UN

Chart 11 Seniors in Focus 2016-2030

Source: Euromonitor International from national statistics/UN

HOUSE AND HOME

the Home Space

Source: Euromonitor International from national statistics

Chart 13 Households by Type 2016

Source: Euromonitor International from national statistics

Chart 14 Household Running Costs 2016-2030

Source: Euromonitor International from national statistics/UN/OECD

SPENDING AND SAVING

Attitudes Towards Spending

Attitudes Towards Savings

Chart 15 Disposable Income and Savings 2011-2016

Source: Euromonitor International from national statistics

Main Household Shop

Chart 16 Main Household Shop by Retailer Type: 2016

Source: Euromonitor from trade sources/national statistics

Shopping for Big-ticket Items and Personal Goods

Chart 17 Internet Retail Spending: 2016

Source: Euromonitor from trade sources/national statistics

EATING AND DRINKING

Chart 18 Consumer Spending on Food by Type: 2016

Source: Euromonitor from trade sources/national statistics/Eurostat/UN/OECD

Source: Euromonitor from trade sources/national statistics/Eurostat/UN/OECD

Chart 20 Consumer Spending on Drinks by Type: 2016

Source: Euromonitor from trade sources/national statistics/Eurostat/UN/OECD

Chart 21 Total Consumer Spending and Spending on Alcoholic and Non-Alcoholic

Source: Euromonitor from trade sources/national statistics/Eurostat/UN/OECD

GROOMING AND APPEARANCE

Investing in Yourself: Female Personal Grooming and Hygiene

Chart 22 Consumer Spending on Clothing, Footwear and Personal Care: 2016

Source: Euromonitor International from national statistics/Eurostat/UN/OECD

Investing in Yourself: Male Personal Grooming and Hygiene

Source: Euromonitor International from national statistics/Eurostat/UN/OECD