local research : ATTITUDES IN singapore TO SAVING, SPENDING, SHOPPING AND SUSTAINABILITY
Singapore has a Green Government that is leading a think-tank into a sustainable future. It is working towards becoming a net-zero city using methodical innovations under its Singapore Green Plan 2030. This includes a 30% reduction of waste to landfill per capita per day by 2030, a reduction in household water consumption, tripling cycling paths, expanding the rail network and having 75% of commuters use rail and bus services during peak commute times.
Not just encouraging citizens and residents to adopt a sustainable lifestyle, the Singapore Green Government is leading by example, expecting its public officers to follow sustainable practices.
Sustainability in Southeast Asia is projected to generate US$1 trillion worth of economic opportunities annually by 2030, largely derived from sustainable production and consumption.
The Carousell Media Group and the IAB SEA+India have released a new report on Attitudes in Singapore to saving, spending, shopping and sustainability. The report highlights the flow on effects of Singapore’s Green Government. For example -
87% of Singaporeans are willing to pay a premium for ethically sourced or produced goods with over one-third willing to spend up to 50% more for this.
over half (55%) of Singaporean consumers judge a brand based on not just its actions but the actions of its suppliers as well.
when shopping online, 59% of Singaporean consumers are making a conscious effort to purchase locally sourced or produced items to support local businesses and reduce their carbon footprint.
70% of consumers in Singapore buy brands that reflect their personal values.
Other highlights from the report include -
8 out of 10 online consumers shop via mobile phone
Lunar New Year, Christmas, Black Friday/Cyber Monday are the most popular online shopping occasions
during 2021 search interest for ‘digital banking’ in Singapore grew 33% as more
users engage with banking services online
three-quarters of respondents said they would consider using online trading apps, crypto trading apps and social trading apps
more than 60% of respondents who do now own their own property are saving to purchase one.
The Carousell Media Group and the IAB SEA+India carried out this research project in five countries in total, generating a Local Report for each country and a Regional Report summarising and comparing the results across each country. Here are the other Local Reports as well as the Regional Report :
