Singapore ditches fashion for fitness, wellness wins while wallets stay tight

SINGAPORE: Singaporeans are increasingly spending their money on health, beauty, and technology, while cutting back on clothing, according to a recent report by DBS Group Research. Shoppers are still very conscious about getting value for their money, even as their priorities shift.

The study showed that Cosmetics, Toiletries, and Medical Goods now make up 7% of consumer spending in the first 10 months of 2025, up from 6.8% last year. Spending on computers and telecom gadgets also climbed to 7.3% from 7%, reflecting a growing appetite for personal tech.

Both industry segments saw compact progress — cosmetics and health products soared 5.1%, while tech expenditure increased by 6.1%. Remarkably, this development came more from purchasing more products than from higher charges, an implication that consumers are seeking good deals instead of just trying to survive price increases.

The recent SInDEx study adds context — Singaporeans’ outlooks for inflation in 2026 have slightly been alleviated, from 3.5% in June to 3.3% in September, but the depiction isn’t completely definite since sentiments are divided, with countless still uncertain and insecure about what the future holds for everyone.

These vouchers aren’t just for groceries — they also help Singaporeans spend at hawker centres, coffee shops, food courts, and on climate-friendly products, according to RHB, giving households more ways to stretch their wallets.

Vendors like Sheng Siong are obviously gaining the benefits. Maybank noted that the hypermarket chain has flourished due to a blend of economic advancement, an increasing populace, construction is thriving, and a set of steady government support actions.

DBS concludes that this focus on wellness, tech, and value-conscious spending is expected to remain influencing how Singaporeans shop in 2026 and beyond.