Y&R finds happiness more important than money to Singapore’s Generation Asia
16 November, 2012
— Happiness, family values, financial security and helping others emerged as the leading values amongst 18-35 year olds in Singapore, in the most comprehensive attitudinal study ever conducted into that demographic. The findings are part of Y&R’s proprietary research tool Generation Asia, revealed today in Singapore.
75% of Generation Asia in Singapore believe that happiness is more important than money, but they also see the importance of long-term financial security, with 73.3% seeing regular saving as a must.
Happily 73% of Singapore’s 18-35 year olds think that family values have not changed, and 72% want to achieve great things that improve the lives of others.
“Singapore is at the crossroads as a society, and Generation Asia is at the centre of it, straddling two visions of the world. Born into a system that was very successfully focussed on preparing them for material success, Singapore’s 18-35 year olds have witnessed rapid change in the socio-economic scenario leading them to reflect on the price paid for that progress,” explained Melvin Kuek, Managing Director, Y&R Singapore.
Continued Kuek, “The single most important life value for them is happiness, it’s more important than making money. There’s a strong emphasis on the preservation of family values, but underlined by strong belief in being financially prepared.”
Singapore is the fourth market to unveil its Generation Asia research findings, following its roll-out in Vietnam, Thailand and the Philippines.
Conducted for Y&R by partner agency VML, an extensive online survey of over 1,400 respondents was carried out in June 2012. Singapore’s biggest single study into the 18-35 segment, Generation Asia is an in-depth attitudinal study into that demographic across the whole region. It is Asia’s most comprehensive psychographic study in terms of number of respondents, geographical coverage and in-depth insights into 16 key topics.
Generation Asia’s optimism and ambition is reflected in its attitudes to the 16 key topics, namely: Vehicles, Beauty (Men & Women), Communication, Education, Entertainment, Fashion, Food, Money, Health, Kids, Love, Luxury, Media, Sports, Technology, Travel.
Key fascinating insights from Generation Asia Singapore 2012:
- 63% of men are ‘beauty’ conscious
- 70% believe children should learn through play rather than books
- 85% of women think confidence is attractive, skincare is more important than cosmetics
- 63% prefer talking face to face
- 72% think education should be more practical and less theory-based
- 75% believe entertainment is more about who you’re with rather than where you go
- 67% think serious journalism is an important factor in being a developed nation
“The new Generation Asia study has given us intriguing insight into how 18-35 year olds in Singapore feel, think, dream and desire. After four decades of development, the nation is in a more reflective mode,” said Hari Ramanathan, Y&R’s regional strategy director and one of the leads behind the entire study. “Having grown up in a prosperous and rapidly progressing Singapore, this is a Generation that’s often accused of being soft and spoilt by the previous one. But are they really spoilt? Do they want it easy? We set out to understand their attitudes and beliefs, and this is an invaluable resource for talking and connecting with them.”
Added Ramanathan, “For a few years now there’s been talk of how Asia is starting to dominate world affairs, economically, socially and even culturally, and yet this powerful zeitgeist was not seen as the lens through which an entire Generation is going to view their own lives. And most importantly they are going to take decisions that define the future landscape of global society, as well as the fate of brands. This is what prompted Y&R Asia to identify and examine Generation Asia.” Media enquiries:
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