It is not surprising then that marketing in Singapore presents a challenge for many marketers. Singapore is a melting pot of diverse cultures and races, from Chinese, Malay, to Indian. It is therefore expected that marketers and new brands entering the country may find themselves doubtful, because not all the strategies they're familiar with work in this setting.
Even though entering this market feels like rocket science, it is actually not. Brands and marketers just need to immerse themselves with the people in order to build legitimate connections. Brands only need to know what to ask, whom to ask, and where to go.
For example, data shows that 92% of the Singapore population are internet users. This means that businesses can use digital channels to promote their products and services. Most successful marketing campaigns in Singapore have all applied digital strategies. Numbers also show that 89.5% of the population use social media platforms. Thus, brands launched their campaigns on Instagram, TikTok, and YouTube and have consequently reached their goals in conversions, sales, and ROIs.
These kinds of information are what business owners need to know in order to create campaigns sure to appeal to this specific market.
There's no one-size-fits-all for marketing, especially in a country with numerous beliefs and perspectives. How do you keep up with all of the different cultures? What are some of the differences between marketing here and elsewhere? Read on as we explore all the important things you need to know.
10 Must-Knows for Singapore Marketing ⬇️
1. Singaporean Consumers Trends
The modern and busy lifestyles of Singaporean consumers have driven them to prefer time-saving products. To ensure your product appeals to Singaporean consumers, you must show them how your product can fit into their modern city schedules.
Besides luxury and time saving, convenience is also essential for this market. Therefore, marketers may include e-payments and fintech products in selling their goods and services to boost conversions. In addition, there is a significant increase in access to on-demand services such as streaming entertainment and ride-sharing, which have set a benchmark motive of affordability amongst Singaporeans.
Singaporeans spend a lot on food-serving services. In fact, Singaporean citizens’ expense on food has increased much more than in 2018. Singaporeans are welcoming all variations of cuisines to their gourmet haven and captivating leisure culture.
Numerous Singaporeans are searching for helpful ways to alleviate work stress. It is revealed by the growth in search terms on Google such as “being calm”, as they are actively pursuing ways to deal with daily stressors. Some of them are attempting to handle stress by taking short breaks, and this consumer trend is made evident by the growth in searches on Google for “Sentosa resorts”, “Staycation in Sentosa”, and “luxury escapes.”
2. Singaporean Consumers' Behaviour and Lifestyle
Singaporean consumers are no longer interested in simple goods and services. The prestige that comes with possessing a branded commodity has become an essential concern in their purchase decisions.
Thus, marketers should consider encouraging psychological benefits through brand name or products.
Singaporeans are also selecting to live healthier lifestyles. That is why the demand for healthy foods and sustainable products is growing. Like other Asian consumers, Singaporeans are sensitive to environmental issues, though they are not keen to pay more or change their habits to support the cause.
3. Understanding of Singaporean Consumers Expectations
Singaporean consumers mostly believe it is essential for brands to provide them with advice regarding the products and services that they offer. They expect brands to reassure them in making the right purchase decision.
Singaporean consumers also want brands to connect with them on a personal level. It is important for them to know the brand before they try the products.
Therefore, brands new to the Singaporeans' senses must first establish a relationship with the market before they can see increase in sales. Brands may try having influencers and experts introduce their products first to the market. This way, the influencers' credibility is extended onto the brand. The market will also more likely trust the brand because of word-of-mouth from people they already know and fully trust.
4. Literacy Rate and Education
The literacy rate in Singapore continues to increase since 2014. As of May 2022, Singapore's literacy rate is at an astounding 96.8%.
For year 2019, the youth sector's literacy rate is at 99.9%. Meanwhile, for the adult sector, the numbers are at 97.5%. Lastly, for the elders, the rate is 96.4%.
The growth in these numbers signify an improvement in education levels in the population. With better education comes extra opportunities for higher-paid employment. With the inflation factor low, Singaporeans are experiencing a significant increase in substantial earnings over the last decade. This increases the population's purchasing power, making Singapore an even more fertile ground for business expansion.
5. Products and Services Preferences
More than half of Singaporeans prefer to purchase new products from brands that are familiar to them. Singaporeans enjoy a high ideal of living, and are eager consumers of foreign products, but with certain limitations.
They are very loyal and cautious towards seeking selections. For example, Singaporean consumers like new products, but they stay loyal to familiar brand names. They indeed like to experiment with new products, but limited to those which they feel assured about. They also consider other factors such as price, quality, and service when making purchasing decisions.
Singaporeans collect information on new products through recommendations from family and friends. They are most likely to discover new brands through product reviews of family, friends, or trusted online sources like influencers, vloggers, bloggers, and experts.
6. High Internet Penetration
Singaporeans are tech-savvy, having high internet penetration rate. Internet and social media penetration in Singapore is significantly above the global average, specifically at 92%. Moreover, urbanization in Singapore is at 100%.
Therefore, brands need to make sure they have online presence. Consumers in Singapore are shifting to online experiences where they tend to consult online reviews to reassure their purchase decisions and online shopping. They also use online channels to discover, search, and support brands.
To increase online presence, brands may make use of e-commerce websites, create their own brand website, and make their own business accounts on social media.
7. Value for Money
Singaporeans love big package promos and discounts. As discovered from the Great Singapore Sale 11.11 by Shopee, Singaporean consumers were eager to queue for good deals.
The growth of search words like “cheap and good restaurants in Singapore” and “delivery promo” has indicated that spenders are looking to maximize the value of each dollar with good quality.
Some businesses speculate that Singaporeans are relatively "cheap" because they like to go for deals, GSS promotions, and gifts. However, that is not the case. The truth is that Singaporeans are savvy consumers that know how to spot a good deal versus products that are ripping them off.
Thus, if you want to do business in Singapore, your businesses needs to demonstrate that your products and services have a higher value than what they are selling for. Singaporeans are not cheap. Promotions are more about value for money.
8. Priority on Customer Experience
An exceptional customer experience at all levels of the purchase journey is what most successful brands create. They are not just simply selling products and services--they create a continuous relationship with their consumers.
In the digital era, customer experience does not just occur at stores. When consumers discover your brand in forums and articles, they will check out your website and social media feeds, and they may even message you for more information. Today, it is proven that a buying decision is earned before a consumer talks to a salesperson.
This has brought marketers to change positions from the conventional marketing funnel to a more dynamic customer journey plan. The new model reveals how a customer constantly interacts with a brand and reaches out from awareness to after-sales.
Instead of nudging consumers down well-defined steps and concentrating only on a small number of qualified leads, the best brands engage customers in varied stages. These factors have broadened the role of marketing from simply driving a sale to supporting the entire customer experience and journey.
9. Brand Advocacy Programs
There is nothing more powerful than good word-of-mouth. This audience is strongly driven by fellow consumers’ reviews about specific products and brands. Encouraging customers to share their reviews on digital platforms is one of the best strategies. Any discussion about your brand containing relevant keywords can wield essential cues.
Singaporean consumers tend to share their experiences with their family and friends. Customers who feel displeased by a product or are ignored after a sale can easily switch to another brand and share their frustration on social media. On the other hand, those who receive good after-sales support—what marketing calls customer retention and lifetime value—can come to be influential brand advocates.
For example, Marina Bay Sands encourages visitors to post their delightful experience staying at Marina Bay Sands, and to tag them on their Instagram page with the hashtag #thatmbsmoment.
10. The Singaporean Gen Z Consumers
In Singapore, Gen Zs are beginning to join the workforce and are beginning to enjoy the freedom and empowerment that comes with spending their own money. Based on 2021 data, when you run marketing on social media, you'll reach Gen Zs and other young generations, from ages 18 to 44 years old.
Gen Z's spending approach is fueled by a need for self-expression and identity, and is expected to have a longer runway. They desire to invest in manners that fit how they shop. For example, something as essential and practical as to how buyers can select to pay for their purchases has evolved to fulfill the new demands of these young and up-and-coming consumers.
A typical Gen Z consumer may notice a brand ad on Instagram, check out its online store, add a product to cart, and head down to its flagship store to try on the item while being fascinated by a specially curated ambiance, and then go home to buy the product online again.
In this post, we’ve explored ten essential things you need to know when marketing in Singapore. From technology usage to the importance of understanding consumer behavior, these factors will undoubtedly affect how you market your business.
If you need help in running a successful campaign in Singapore, contact AJ Marketing, the best local influencer marketing agency in Singapore.
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