Singapore consumer spending down 14% From Singapore Tourism Board

RecordTrend.com is a website that focuses on future technologies, markets and user trends. We are responsible for collecting the latest research data, authority data, industry research and analysis reports. We are committed to becoming a data and report sharing platform for professionals and decision makers. We look forward to working with you to record the development trends of today’s economy, technology, industrial chain and business model.Welcome to follow, comment and bookmark us, and hope to share the future with you, and look forward to your success with our help.

The following is the Singapore consumer spending down 14% From Singapore Tourism Board recommended by recordtrend.com. And this article belongs to the classification: original, Tourism economy.

According to the latest report of Singapore Tourism Board, its consumption expenditure fell by 14% due to the lack of foreign tourists and the change of local shopping preference. This includes local retail brands, and subcategories include fashion apparel, jewelry and accessories, leather goods and bags, shoes, accessories, watches, department stores, souvenirs, food and candy.

The lack of online channels has also made local brands increasingly vulnerable, especially those located in tourist areas. Of the goods sold by local brands, less than S $2 per 100 is traded online, which is lower than the normal retail average.

In Singapore, compared with face-to-face consumption, online consumption of the top five businesses increased significantly year-on-year, indicating that consumers’ preference for online platforms has changed.

This gap is particularly obvious in the catering industry (online consumption increased by 181% year-on-year, face-to-face consumption decreased by 8%), medical services (online consumption increased by 31%, face-to-face consumption decreased by 4%) and entertainment services (online consumption increased by 27% and face-to-face consumption decreased by 12%).

In addition, more than four fifths of consumers in the Asia Pacific region intend to continue or more online shopping (85%); less than two fifths of consumers intend to resume the pre pandemic in store shopping model.

The survey found that 85% of Singaporean consumers intend to continue or increase online shopping. Online consumption in catering, commerce, health care, entertainment and retail industries has increased significantly, especially in the catering industry.

More reading: Singapore Tourism Board: 127000 Chinese second tier cities visited Singapore from January to February 2016 A 43% year-on-year increase. IResearch Consulting: Research Report on tourism consumption of China’s scenic spots in 2018 (download attached) STB: Chinese tourists have the highest consumption capacity in the local area. STB: Singapore Tourism Report in the first quarter of 2019 Singapore Tourism Board: Chinese tourists spent $2.4 billion in 2013 Singapore Tourism Board: Singapore’s tourism revenue of S $23.5 billion in 2013 CTR: 2020 trend of China’s consumer market (download attached) visa: survey shows that Chinese online shopping users continue to improve the level of cross-border online consumption Key motivations of Asian female customers’ consumption iResearch: gender attitudes towards media, advertising, consumption and brand Taobao data: mature buyers become the main consumer of Taobao appliance city IRI: tracking the behavior of American consumers during the epidemic of coronavirus

If you want to get the full report, you can contact us by leaving us the comment. If you think the information here might be helpful to others, please actively share it. If you want others to see your attitude towards this report, please actively comment and discuss it. Please stay tuned to us, we will keep updating as much as possible to record future development trends.