Sunday, May 28, 2017

Marriage rates have been steadily rising

Chinese form the largest addressable racial group as they constitute over 75% of both the male and female population in Singapore
- By age: Males and females between age 30 to 49 years form the largest segment of the population. Within this group, males age 35 to 39, as well as females age 30 to 34, could be a potential target segment for the bridal jewellery as their marriage rates have been steadily rising and also registered the highest increase across the decade
- By income: Income groups between S$2,000 to S$3,999 per month constitute the largest segment for mass market targeting. For the higher end market segment, it is noteworthy that males outnumber females by a ratio of 3 to 1 for monthly income categories aboveS $10,000

- Retail industry: S$26 bn business (as of 2005) with strong growth prospects, due to positive economic outlook and growing tourism sector
- Jewellery sector: Steadily growing sector in Singapore with over S$1.3 bn in sales (4% of retail trade) for 2005. Upward growth trend is likely to continue given consumers' increasing propensity to spend, due to strong consumer confidence and rising disposable incomes

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