LE Research Shows Singaporeans Are Value-Driven
Written by: Rebecca Ellwood (Partner Content Producer Luxury Escapes)
As Luxury Escapes expands internationally, so too does its need to thoroughly understand what motivates consumers in each individual market.
To dig deeper into the psyche of the Singaporean luxury traveller, Luxury Escapes conducted a six-week ‘travel habits’ study during June and July 2018.
Respondents to the survey were a mixture of Singaporeans (223) and Singapore residents (189), wand were Luxury Escapes members who each spent a minimum of S$200 per night on accommodation.
The survey unveiled some interesting data that the Singporean luxury traveller is more value-driven than initially anticipated. 90% of those who participated said they’d be disappointed if they had to pay more for breakfast or airport transfers, whilst inclusions such as club lounge access or ‘happy hour’ deals are expected in accordance with the package price.
70% of respondents enjoy a minimum of two to three luxury holidays per year
The most highly-ranked bucket-list destinations for respondents were the Maldives (60%), Europe (53%) and Japan (38%)
Beachside getaways are the most highly sought-after (80%), followed by foodie tours (43%) and adventure holidays (36%)
“We were surprised that we overwhelmingly confirmed our hypothesis around how value-driven the luxury traveller actually is,” says Rajah Chaudhry, Head of Asia at Luxury Escapes. “Despite traditional beliefs that high-end travellers want to splurge while on vacation, this survey confirms that Singaporean and resident travellers seek value above anything else. For instance, free inclusions that would save money off their total holiday budget – such as meals, airport transfers, snacks and drinks – were more valued over luxurious indulgences, such as a dedicated butler, fully-stocked mini bar or free activities.”
The survey also bucked the rising trend towards home-sharing amongst affluent travelers.
“We were also surprised at how, despite a growing trend towards booking private apartment or home stays, luxury hotels and resorts were still the clear favourite, preferred by 65 per cent of respondents (while) private apartment or homestay was only preferred by a minority, three per cent," Chaudhry said. "Singaporeans clearly want the confidence that an established hotel provides, to know that they will get what they paid for when booking a luxury hotel.”