1 in 4 Singaporeans keen to save more money in 2025 – NielsenIQ

Retail discounts will drive spending decisions in 2025.

Singaporean consumers are redefining spending habits, driven by a focus on health, sustainability, and value-for-money innovations, according to NielsenIQ’s latest report. A shift toward “intentional spending” is prompting individuals to prioritise meaningful purchases over fleeting luxuries.  

Craig Houliston, Regional Executive Director of Asia Regional Analytics & Insights at NielsenIQ, highlighted a significant shift in how discounts are perceived. “What we're seeing is there's been a change in the concept of discount due to changes in socio-economic disruption,” he explained.  

The report highlights Singapore’s consumer polarization: 24% thriving, 34% struggling, and 42% cautious, driving diverse discount preferences from economical to premium value-for-money options.

“Even though they may be paying a bit more, it could be something which could be more energy-efficient or potentially get them more bang for their buck,” Houliston noted.  

Houliston observed that Singaporean consumers are increasingly prioritising unmet health needs. “Actually, what we find is that their top health concern is actually sleep, the second one is with regard to work-life balance, and the third most important health need is with regard to mental health,” he shared.  

This has created opportunities for brands to innovate around low-calorie, high-protein products and items that support gut health and cognitive well-being. Additionally, health wearables like Apple Watches and Fitbits are rising in popularity as consumers seek more personalized insights into their health.  

“Consumers in Singapore and in the region are becoming a lot more savvy with regard to health, because they're going to be more informed in terms of what their unmet needs are,” Houliston emphasized.  

Sustainability is emerging as a critical factor in consumer decisions. According to Houliston, 64% of Singaporean consumers actively seek products that reduce plastic consumption, and they expect brands to be more transparent about product lifecycles and waste reduction.