Target Market (6th post)

This is the secondary research of The Editor's Market's target market. 

Demographics:
15- to 30-year-olds
Teenage girls, young adults
Working people (especially in fashion industry), people who love fashion and follow trends, bloggers, influencers
Style: Minimalistic, Simple, Edgy, Feminine (trend-based)
People with a shopping budget of at least around SGD50 - 200 per month
People who like to shop both online and offline
People who are social media savvy

Psychographics:
- changes clothing a lot
- always changes style
- not overly brand conscious
- often goes out, be it with friends or alone

("Demographics", 2017)

Consumer Behaviour: 

They tend to follow trends, prefer to go out but do indoor activities (go to the mall, watch movies, etc). Mobile and Internet shopping is a trend for them. 

If they go shopping, they tend to find the best deals, and love to shop when there are sales. The younger generation is brand conscious, they like to buy products from many brands. 44% young adults like to try the clothes before buying or shopping online. ("Consumers Behaviours in Singapore", 2016)

Singapore Fashion:

- Less is more (due to the weather)

- They like to create their own style and follow trends

- It is okay to wear streetwear or mid-range brands of clothing, but they must at least tote the latest branded bags.("Consumers Behaviours in Singapore", 2016)

Primary Target Market: People who live in Singapore, 15-30 years old, have a quite minimalistic and simplistic style but still want to look fashionable

Secondary Target Market: Since last time, The Editor's Market collection used by so many influencers until now, the others target market from worldwide beside Singapore will be a great target for the secondary buyers or customers.

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Singapore is a shopping paradise - we can often see a lot of tourist shoppers in Singapore. But besides the tourists, Singaporean women also love shopping. According Poly Online Singapore, after having surveyed people aged 15-35 years, it is found that men tend to spend more money, while the women shop more in terms of quantity rather than the men (Awang, 2016).

Based on UOB research, an interesting fact found was that women tend to spend money faster than men. Here, UOB categorized the types of women in Singapore today:
1. Millennials, digital enthusiasts and aged 18-25 years, 55% of spending per month, or $ 400, can be used for dining, shopping, fashion and beauty.
2. Already has a job, a professional young worker aged 26-35 years, and spends as much as $ 1,000 for the same things as the former type, of which $ 1,000 is 52% of the expenditure per month. (Goh, 2017)

In Singapore, a lot of people frequently shop online. 65% said they were comfortable shopping online, 69% of them shopped on overseas websites other than Singapore. They find shopping online gets them more promotions. According to them, shopping online is convenient, fast, and some well-known and reliable websites have a trusted payment system, which will minimize the occurrence of fraud (Eaton, 2016).


Research also shows that as much as 65% Singapore spend on clothes and accessories, followed by travel (56%), and 54% on the latest electronics (Yeoh, 2015).

References:

Demographics. (2016). Population.sg. Retrieved 14 February 2017, from http://www.population.sg/population-trends/demographics

Consumers Behaviours in Singapore. (2016). Prezi. Retrieved from (https://prezi.com/pjpcicf-cu4u/consumer-behaviours-in-singapore/)

Awang, F. (2016). Poly online survey: Women shop more but men spend more. The New Paper. Retrieved from http://www.tnp.sg/news/singapore/poly-online-survey-women-shop-more-men-spend-more

Goh, A. (2017). UOB reveals the spending habits of Singaporean women. Marie France Asia, women's magazine. Retrieved from http://www.mariefranceasia.com/lifelove/decoding/habits-behaviour/spending-habit-singaporean-women-198482.html

Eaton, M. (2016). Infographic: Spending habits of Singapore Millenials. Marketing Interactive. Retrieved from http://www.marketing-interactive.com/infographic-spending-habits-singapore-millenials/

Yeoh, R. (2015). Retrieved from http://www.xilnex.com/shopping-habits-of-women-singapore