70% of Singaporeans are shopaholics | Singapore Business Review
,Singapore
39 views

70% of Singaporeans are shopaholics

Shopping becomes a national pastime with 80% of Singaporeans unable to resist a good bargain.

These are some of the results of The Harris Poll conducted online by Harris Interactive among 9,222 adults in Singapore, Hong Kong, China and India, the U.S and Great Britain, France, Germany, Spain and Italy.

Shopaholics or just love shopping?
o Almost 70 per cent of Singaporeans admitted to either liking or loving shopping. Only 1 per cent of Singaporeans don’t like shopping
o Almost 60 per cent of Singaporeans admitted to purchasing an item of clothing within the last four weeks.

Singaporeans are some of the least brand conscious consumers in Asia
o 64 per cent of Singaporeans said that brands weren’t that important to them. Only 36 per cent of Singaporeans said brands were important to them – this compared to 72 per cent and 74 per cent in China and India respectively.
o Singaporeans are least bothered about brands when purchasing lingerie and casual wear.
o However, they are most concerned about brands when purchasing cosmetics/ fragrances and watches.

Singaporeans can’t resist a bargain
o 20 per cent of Singaporeans made their last purchase because it was on sale. This figure was the highest in the world.
o Almost 80 per cent of Singaporeans said that they love to get bargains, as long as the clothes are trendy. Another highest in the world figure.

There has been much written about the increased spending power of Asian consumers, in addition to their penchant for fashion and brand names, many of which have launched or expanded in Asian markets over the last decade. Now there is evidence that not only are people in India and China more brand-conscious than their counterparts in Europe and the U.S. – they also are quite open in their passion for brand names in the context of fashion.

In fact, almost three-quarters of adults in China (72%) and in India (74%) admit that brand names are important to them when purchasing clothing and accessories, compared to just one-quarter in the U.S. (26%), Great Britain (24%), and even in the country known as the world’s fashion haven – Italy (28%)!

These are some of the results of The Harris Poll conducted online by Harris Interactive among 9,222 adults in Singapore, Hong Kong, China and India, the U.S and Great Britain, France, Germany, Spain and Italy.

Trendy vs. Classic
There are indications that in certain markets purchasing classics is more important than being trendy. 74% of Americans tend to purchase classics versus trends; a practice which is shared among adults in China (71%), India (70%), France (60%), the UK (58%), Germany and Italy (57% each).

However, in China and India, 63% indicated that they “like to be the first out of their friends to have the latest trend” whereas a quarter or fewer in all the other countries agreed (9% to 24%).

In most of the markets studied there is a strong belief that good brand names translate to quality products; 9 in 10 adults in India (89%) and China (92%) believe that brand names provide better value due to quality, a thought shared by majorities in Singapore (75%), the U.S. (65%), Italy (63%), and France (53%) as well. However, in Spain (41%), Great Britain (48%) and Germany (47%), fewer than half think this is the case.

In Singapore (77%), India (72%), Great Britain (68%), the U.S. (66%), Spain (65%) Italy (64%) and Germany (63%) there is also a fondness for bargains, even if they are not brand names ‘as long as it is trendy’. In Singapore, where shopping is a national pastime, and on the heels of the Great Singapore Sale – 41% reported the main reason for their last purchase as ‘I was just browsing and it caught my eye’. One in five adults in Singapore said they made their most recent purchase because “it was on sale and I just couldn’t resist a bargain.” 

Get Singapore Business Review in your inbox
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!

Singtel, Keppel Corp, and OCBC Bank led the Straits Times Index on 29 July.
Total property income decreased by 4% but was offset by the decline in expenses. 
This is under the Special Situation Fund for Startups investment scheme. 
Called Project Nexus, the blueprint outlines how countries can integrate their retail payment systems onto a single cross-border network.
It plans to expand in the coming months, on the back of China’s economic recovery.
Funds will be used to modernise its portfolio.
Local financial firms are expected to remain resilient even should the economy slip into a recession again.
The Mapletree group of companies led the index on 28 July.
A total of 120 flats sold for more than $1m as of the first seven months of the year.
There was a total of 200 auction listings in the second quarter, 40 of which were residential properties.
Singapore’s top 20 most traded manufacturing-related stocks have a combined market value of $98.8b.