Megatrends in Singapore

Abstract
This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of ’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.

Why buy this report?
* 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.

Content
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