Technologically Inclined

Technologically Inclined

The target market, 25-35 year olds are commonly referred to as the Millennials; those born between 1980s-2000s. Being born into an emerging world of technology, Millennials are technologically inclined with majority of gadgets within their knowledge. In Singapore, 80% of millennials shops online with 69% doing cross-border online shopping. According to a study when shopping online, it is evident that Singapore Millennials also look beyond tangible goods and focus on authentic experiences that reflect their passions and interests.  This is shown through their spending power on intangible goods such as entertainment (40%), travel (58%) and event tickets (54%).

High Spending Power & Seek Luxurious Lifestyle

At the younger end of the spectrum, individuals tend to be big spenders. What is earned is spent on themselves. The overall purchasing power of millennials worldwide is calculated to be an approximate $170 billion annually. A study has shown that 3 in 4 millennials prefer spending money on experiences as compared to tangible products as they seek adventure and forging memories.

Wellness Inclined

For millennials, wellness is a daily, active pursuit. They’re exercising more, eating smarter and smoking less than previous generations. Dedicated to wellness, devoting time and money to exercising and eating, they are more willing to spend on these areas. Increase from 69%-83% 12th graders who disapprove of people 18 or older smoking 1 or more packs of cigarettes a day.

Supporting Information for Selection of Theme

Marriage and parenthood are generally put off until later in life. The average age of marriage and parenthood is 30 for men and 28 for women with percentage of women having children by age 30 being at its peak.

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General Facts

Marriage and parenthood are being put off until later. The average age of marriage is 30 for men and 28 for women. (Shows that they are at the right age for marriage. 25-35 year olds.)

Between the ages of 25 and 34, individuals are in a range of different lifestages. It is a time when the lines between the values of being young and the values of being parents are blurred.