SINGAPORE: Young consumers in Singapore are increasingly interested in acquiring local brands, high levels of product quality and looking good, a report has revealed.
Y&R, the agency, and VML Qais, the research firm, polled over 1,400 people in the 18–35 year old age group, and found that 43% seek to buy or support domestic brands and products.
In terms of their apparel purchase habits, a 66% majority of participants were more concerned about liking the clothes rather than which company manufactured the item in question.
When discussing the luxury category, an additional 62% thought quality, not price, was the central factor in determining whether a product deserved a premium status.
Turning to the beauty sector, an 85% share of women believed good skincare held greater weight than using cosmetics. A further 63% of men described themselves as being "beauty-conscious".
For 28% of consumers, it was important to be the "first to try and do new things", offering a potential audience of influencers for marketers to target.
With regard to communications, some 33% of the panel agreed social media was more trustworthy than its mainstream counterpart, but 63% preferred face-to-face, instead of digital, interactions.
Despite this, "serious journalism" was perceived as a vital characteristic of developed countries for 67% of respondents.
Another 75% of interviewees believed happiness took precedence over making money, although 73% similarly viewed regular saving as a "must".
Hari Ramanathan, Y&R's regional strategy director, said: "The trick is to find out what is their idea of happiness is ... Brands need to look at what brings them happiness within their category. It's about emotional satisfaction, not merely the physical attribution of a product."
Elsewhere, a 72% share of contributors also hoped to achieve "great things" that helped improve the lives of others, while 73% concurred that family values have not changed.
Eugenie Yeo, regional brand marketing manager for Discovery Networks Asia Pacific, suggested the opinions of this audience may be linked to a lack of income pressure. "At 30, they might still be living at home. Financial gain isn't their priority," she said.
Data sourced from TodayOnline/Campaign Asia; additional content by Warc staff