
Singaporeans gear up for Lunar New Year with strong appetite for spending
As the Lunar New Year of 2025 approaches, latest data from YouGov shows that almost three in five Singaporeans (58%) say they celebrate the festival. While both men and women are equally likely to celebrate, younger adults are particularly enthusiastic. Among those aged 18-24, two-thirds (66%) celebrate the holiday, closely followed by 65% of 25-34-year-olds. In contrast, just 48% of those aged 35-44 join the revelries.
When it comes to shopping for the holiday, two in five shoppers begin their gift-buying within the month leading up to Lunar New Year. Specifically, 5% make their purchases up to a week before, 15% shop one to two weeks in advance, and 21% buy gifts two to four weeks prior. A quarter of consumers (25%) start shopping one to two months before the holiday, while the rest plan ahead by two to four months or longer.
Men are more likely to leave shopping until the last minute, with 49% purchasing gifts in the month before the holiday, compared to 35% of women. However, women tend to be more spontaneous, with 21% saying they buy gifts whenever they see something they like, while only 12% of men report the same behavior.
The data shows that 69% of Lunar New Year gift buyers intend to spend the same amount or more than they did the previous year, with 20% expecting to spend less.
In terms of gift preferences, fashion accessories are the most popular choice (36%), followed by gift cards/vouchers (32%), clothing or chocolates (29%), cosmetics or beauty products (28%), and tech products (27%). Fashion accessories and tech products are especially favored by those aged 25-34, while clothing and cosmetics are more popular among 18-24-year-olds.
When it comes to shopping channels for this year’s holiday season shopping, 37% shoppers intend to shop online via e-commerce platforms like Amazon, while 18% will buy through a retailer’s website. Physical retail stores can also expect substantial traffic, with 43% of shoppers intending to purchase in-store.
Methodology
The consumer insights in this article are based on data from YouGov Surveys: Serviced.
YouGov Surveys: Serviced provides rapid answers from the right audience. The multi-region survey was conducted from August 12, 2024, to September 3, 2024, 1001 respondents based in Singapore. The target group of “Lunar New Year gift buyers” refers to those who answered “Lunar New Year” to “Which gift-giving holidays, if any, do you celebrate?” and answered “1+” to “How many people, if any, do you typically buy gifts for during the holiday season?”