Why the underconsumption trend won’t have much shelf life in Singapore

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including the plushies in the recent “Labubu” craze made popular by K-pop girl group Blackpink’s Lisa?

contributor to Singapore’s particular consumer mania is the never-ending calendar of sales from major corporations and brands.

Many local businesses offer express delivery, which is typically two to three business days, or better yet, same-day delivery on purchases. With the constant influx of push notifications, it may prompt consumers to shop more often because the gratification received is gone as fast as it has come.

Part of the reason for increased spending is the impact of shifting trends. Youth culture is heavily influenced by rapidly shifting aesthetics driven by social media.

Many such brands heavily rely on influencers – or “key opinion leaders”, as some are termed – to flaunt their products and create an inflated sense of living and status. In a 2023 Rakuten Insight survey on social media influencers, nearly 50 per cent of Singaporean respondents stated that they “purchased an item or product because it had been endorsed by an influencer”.

Qn: ‘Online advertisements use increasingly sophisticated methods to target consumers.’ To what extent does this bring more harm than good? (Cam. 2024)