Singapore (VNA) – A recent survey by StandardChartered has revealed that nearly 80 percent of respondents in Singaporeexpect the country to go fully cashless in the next decade.
It comes as Singapore consumers are shifting towards onlinebanking and online shopping amid the COVID-19 pandemic, while also pivoting tobetter money management and mindful spending.
In Singapore, 50 percent of consumers pay with cardscompared to 35 percent before the pandemic broke out, while 80 percent ofsurveyed people said that they are more cautious with their expenditure.
People aged from 45 tend to be more careful than those inthe younger group of 18-44 years old.They spend 25-52 percent on groceries,digital and health equipment, and less on clothes, travel and vacation.
The survey was carried out from August 17-21 over 12,000consumers aged from 18 in 12 economies, including Singapore, Malaysia, HongKong (China), the US, and the UK on the spending habit after the outbreak ofCOVID-19./.
It comes as Singapore consumers are shifting towards onlinebanking and online shopping amid the COVID-19 pandemic, while also pivoting tobetter money management and mindful spending.
In Singapore, 50 percent of consumers pay with cardscompared to 35 percent before the pandemic broke out, while 80 percent ofsurveyed people said that they are more cautious with their expenditure.
People aged from 45 tend to be more careful than those inthe younger group of 18-44 years old.They spend 25-52 percent on groceries,digital and health equipment, and less on clothes, travel and vacation.
The survey was carried out from August 17-21 over 12,000consumers aged from 18 in 12 economies, including Singapore, Malaysia, HongKong (China), the US, and the UK on the spending habit after the outbreak ofCOVID-19./.
VNA
