Here’s what young Singaporeans prioritise most when choosing a brand

Reliability and trustworthiness are key considerations.

It’s no longer as simple as high-quality products or services as citizens of Singapore are also more particular now with the reliability and trustworthiness of brands, especially younger consumers.

According to a report by HSBC, 94% of young Singaporean consumers (18-34s) said that trust and reliability in a brand was the most important consideration when making a purchase.

Older consumers also shared the same views, with 88% of Singapore respondents who were 35-54 and 85% of respondents who were 55 and older valuing reliability.

“Comparatively, the global average amongst consumers from advanced economies who sought trust and reliability in brands was 63%,” the report noted.

Steven Cranwell, head of commercial banking for HSBC Singapore, said the fact that younger Singaporeans are seeking reliability and trustworthiness seems counter-intuitive and surprising, as these attributes are more likely to be associated with older consumers.

“This is an example of how consumer behaviour is changing rapidly, and businesses need to be alert to these changes so they can respond positively in order to sustain business growth,” he added.