Chart of the Day: Discover what Singaporean consumers are willing to pay more for

If it means saving them time.

More than half of Singaporean consumers do not want to compromise on freshness and quality, while less than a fourth do not mind and deem price to be their top purchase consideration.

This is according to a survey made by IPSOS and SSI, which detailed Singaporeans’ shopping trends over the course of 2014.

The survey also found out that Singaporeans have spent more money last year compared to a year before, and that house-brand spending is on the rise.

When it comes to their primary channel of shopping, 70% of Singaporeans choose the larger supermarket chains such as Giant, Cold Storage, Fairprice etc. But there are a good 10% of Singaporeans who choose smaller Convenience Stores, Pharmacies like Watsons and Unity, and “Mom & Pop” neighbourhood stores as their primary channel of shopping. Another 8% choose online as their primary channel.

“While location (51%) and overall price points (48%) are two of the key drivers of why consumers may choose to shop at a particular channel, organizations need to keep in mind that the store environment, store and shelf layout consciously or unconsciously affects how consumers choose a brand or product over another, as well as how much money they would end up spending at that channel. As Singaporeans start to evaluate what and where they buy more carefully, it’s important for organizations to look past just promotions to attract the consumer and focus more on how they make decisions in-store.” commented Nick Hunter, Research Director, Ipsos Singapore.