appreciating fashion in singapore
DESCRIPTION
Singapore has emerged as a leading fashion hub in Asia Pacific and has a highly evolved competitive landscape as brands are expected to cater to citizens as well as sizeable populations of foreign residents and tourists. Purchase decisions are increasingly influenced by brand perception as female consumers consistently look to premium international brands for personal accessories and footwear. This is an excerpt of the presentation that Sulabh MadhwalSulabh Madhwal, Personal Accessories Analyst, gave at UBIFrance this year.TRANSCRIPT
APPRECIATING FASHION IN SINGAPORE
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Women in Hong Kong and Singapore most financially independent
CONSUMER INSIGHTS: ASIA PACIFIC
Where in Asia Pacific Will Women Enjoy Improved Financial Independence?
Hong Kong
Singapore
Hong Kong
Thailand
Singapore
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1 million
1.15 million
1.26 million
0.61 million
0.71 million
0.76 million
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2009 2014 2019
Singapore: Evolving Female Population (% by Age)
Female Population Aged 0-14: January 1st Female Population Aged 15-24: January 1st
Female Population Aged 25-44: January 1st Female Population Aged 45-64: January 1st
Female Population Aged 65+: January 1st
Conventional target market will bear fruit
CONSUMER INSIGHTS: SINGAPORE
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The Singapore attraction
FASHION INDUSTRY INSIGHTS: SINGAPORE
Regional Fashion Hub
• Fashion Weeks 2014
• Global Fashion Capital Rankings: #18 in 2013
• Chanel Cruise 2013
Consumers Trading Up
• Brand consciousness, exclusivity and quality
• 2013 Incoming Tourist Receipts on Shopping US$4.6 billion
• Over 2009-14, average unit prices rose for Handbags (54%),
Real Jewellery (40%), Women’s Outerwear (27%)
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Real Jewellery Quartz Analogue Watches
Handbags
Influence of domestic brands limited outside jewellery
FASHION INDUSTRY INSIGHTS: SINGAPORE
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Women’s Outerwear Women’s Footwear
Fast fashion dominates outerwear, while luxury dictates footwear
FASHION INDUSTRY INSIGHTS: SINGAPORE