Do you remember the year when shopping was once Singaporean's favourite pasttime?

Almost 70% of Singaporeans were shopaholics.

Concerns about the economy and job security continue to be a major drag on Singapore consumer sentiment. This has been reflected in the latest Nielsen Global Survey of Consumer Confidence in 1Q16.

The survey findings also show that spending less on new clothes and cutting down on out-of-home entertainment are the preferred actions to save on household expenses.

Research firm RHB notes that Nielsen's latest survey seems to be in stark contrast to 2011, when Harris Interactive published poll results revealing that 70% of Singaporeans are shopaholics.

The survey also found that almost 60% admitted to purchasing an item of clothing within the last four weeks. Furthermore, 20% of Singaporeans made their last purchase because it was on sale. This figure was the highest in the world.

Lastly, about 80% of Singaporeans love to get bargains so long as the clothes are trendy. This was also the highest in the world.