Megatrends in Singapore
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.
Euromonitor's Megatrends in Singapore report analyses factors influencing national consumer expenditure. Consumer lifestyles reports include coverage of: population, urban development, home ownership, household profiles, labour, income, consumer and family expenditure, health, education, eating habits, drinking habits, shopping habits, personal grooming, clothing, leisure habits, savings and investments, media, communication, transport and travel and tourism. Use this report to understand the factors influencing a nation's lifestyle choices.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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* Get a detailed picture of the Megatrends market;
* Pinpoint growth sectors and identify factors driving change;
* Understand the competitive environment, the market’s major players and leading brands;
* Use five-year forecasts to assess how the market is predicted to develop.
- Scope
- The drivers shaping consumer behaviour
- Megatrends framework
- Businesses harness megatrends to renovate, innovate and disrupt
- Digital living
- McDonald’s is getting its food to consumers in their homes
- Millennials are the most tech-savvy cohort
- Many Singaporeans actively manage their data privacy settings
- Baby boomers and Generation X are less comfortable with sharing their personal data
- Singaporeans trust recommendations from their families and friends
- In-person activities are expected to recuperate as the pandemic abates
- Experience more
- TikTok app is viewed more than for just entertainment
- Singaporeans value real world over virtual experiences
- Shopping for leisure is common among Singaporeans
- Safety by far trumps all other travel destination features
- Millennials are the most eager to resume face-to-face activities
- Middle class reset
- FairPrice Group helps consumers cope with the increasing cost of living
- Baby boomers in Singapore lead a minimalist lifestyle
- Singaporeans like to donate their used items to charities
- Generation Z are the most inclined to save on products
- Premiumisation
- Fast-paced city life make Singaporeans yearn for a simpler life
- All cohorts are optimistic about the value of their investments
- Singaporeans look for quality when buying home care and clothing
- Shifting market frontiers
- Norwegian Pink Fish expands in Singapore as responsible dining gains traction
- All age groups are open to international products and cultures
- Baby boomers are the most focused on supporting locally-owned business
- Shopping reinvented
- IKEA Singapore launches first small-store concept in Southeast Asia within a shopping mall
- Smartphones used as the most convenient way to order food
- Consumers not as engaged with companies via social media as their global counterparts are
- Younger generations are more interactive with brands on social media
- Sustainable living
- Sooorya developing big electric taxis in response to need for improved air quality
- More than 60% of Singaporean citizens are trying to make a positive environmental impact
- Recycling, food waste and plastics use are key sustainability action points for consumers
- Singaporeans are less politically active but support responsible brands
- Recyclable and biodegradable packaging are considered the most sustainable
- Wellness
- Physical exercise is high on the wellness agenda
- Massage and meditation are the top mental wellbeing activities
- Singaporeans are among the world’s top users of fitness apps
- Consumers remain cautious about health and safety outside their home environment
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