Luxury shoppers in Singapore plan to keep spending
Shoppers in Singapore are intending to continue or increase their expenditure on luxury items in the coming months, according to a recent survey conducted by MasterCard.
A total of 191 consumers who currently own at least one luxury item worth $1,000 or more, were polled from March to April. About 68% of those surveyed plan to spend the same or more on luxury items such as watches, jewellery and designer clothes or leathergoods in the coming months.
About a quarter (26%) said they tend to research extensively about a luxury item before making the purchase within two to six months, while 45% would mull over a purchase but buy it within a month.
Only 17% said that they would buy the item on impulse on the spot, while 12% tend to decide on the item on the spot but wait for a sale before buying it.
