Chart from MasterCard

Where do the mass and affluent Singaporeans spend their money?

Mass market consumers spend a higher portion of their wallet (5.04% vs 2.22%) on essentials.

Regardless of wealth level, consumers in Singapore spend most on discretionary goods.

According to Mastercard, discretionary spending accounts for 76.89% and 87.83% of the mass market consumers and affluent wallets, respectively.

Compared to 2019, however, the share of discretionary spending in the wallets of the masses (81.93%) and affluent (89.60%) has declined.

Essentials, on the other hand, now account for a larger share in the wallets of Singapore consumers (18.07% vs 23.11% for mass market consumers; 10.40% vs 12.62% for affluent consumers).

Essentials include automotive fuel and grocery. Meanwhile, discretionary items include airlines, hotels, and travel agencies, apparel and jewellery, dining, and household goods. 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!