, Singapore
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Are Singapore's younger consumers unsupportive of local brands? 

Only four in 10 Gen Zs agree that supporting local brands is very important.

Supporting local business isn't as important to younger consumers in Singapore as it is to older generations, a report from American Express revealed.

According to the report, only 44% of Gen Zs agree that supporting local brands is very important, whilst 63% of Baby Boomers agree with the statement.

More than half of millennials (57%) and Gen X (56%) also believe that it is very important to support local brands.

Gen Zs are also the least concerned about Singapore's heritage business disappearing in the next decade (52%).

Heritage businesses like Hjh Maimunah are working hard to reach out to younger generations. Its second-generation owner, Mastura Didih shared: “When children are introduced to traditional food earlier in their lives, they are more likely to develop a taste and interest for it later – this helps to pass on our culture and heritage to the next generation. I hope more young families will dine with us so future generations learn more about our local food and culture.”

Whilst having the lowest support for local brands, Gen Z is one of the more generous generations, with 18% expressing willingness to pay a premium for homegrown businesses.

Overall, Singaporeans are supportive of local business, with nine in 10 saying they shop at Singapore-based shops.

The top reasons Singapore consumers choose to shop with local businesses over international ones: convenience (68%), value for money (60%) and a more personalised customer experience (33%). 

Interestingly, 21% are also driven by their desire to maintain relationships with the staff or owners of these businesses – with Millennials (27%) and Gen Xs (24%) more likely to do so than Gen Zs (16%) and Baby Boomers (17%).
 

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