A third of SIngapore women are digital natives: UOB

United Overseas Bank has released Singapore’s first profiles for the contemporary Singapore woman based on their behaviour and spending patterns. The UOB Leading Ladies report* classes the women as digital natives, young professionals and cosmopolitan leaders.

Jacquelyn Tan, Managing Director and Regional Head of Cards and Payments, UOB, said that the report elaborates on the enterprising nature and consumption patterns of Singapore women today. “The average Singapore woman is highly educated and juggles work and family at the same time. From the baby-boomer senior executive in a multinational corporation to the Generation Z Internet entrepreneur, women in Singapore contribute more than 40% to Singapore’s GDP. Their energy and passion help feed their ambition. As the saying goes, ‘Women hold up half the sky’ and for Singapore women, I would add that the sky’s the limit," she said.

The bank has identified three archetypes for today’s Singapore woman:

Rachel, the digital native, is 18 to 25 years old. She spends S$400*** a month. Shopping, beauty and eating make up 55% of her total monthly spend Born in the age of the Internet, Rachel is technologically-savvy and typically an early adopter of new digital platforms and solutions, such as paying with her smartphone. Social media is integral for her to stay connected with friends and is a medium for self-expression.

Rachel is probably pursuing a tertiary education or is a fresh graduate who has just entered the workforce. As a consumer, she is as comfortable in brick-and-mortar stores as she is online, shopping at least twice a month at e-retailers. Rachel values off-the-beaten track travel and dining experiences. When travelling, she seeks to live as the locals do. She prefers short-term rental stays such as Airbnb to hotels.

Michelle, the young professional, 26 to 35 years old, spends S$1,000**** a month where shopping, beauty and dining make up 52% of her total monthly spend. Michelle is well-educated and career-focused. Having worked for a few years, she is likely to be financially independent and interested in long-term investments to build her retirement nest egg.

Michelle is often strapped for personal time and values spending her weekends with family and friends. When travelling, she is likely to indulge in the finer things in life, such as dining experiences and luxe fashion brands.

Christina, the cosmopolitan leader, is above 36 years old. She spends S$2,000**** per month of which shopping, medical services, beauty and fitness make up 64% of her total monthly spend. Established in her profession, Christina is a citizen of the world. Travelling often for work, she can find herself in two different cities in a week. As such, maintaining her health and fitness is of the utmost importance. When travelling for leisure, she prefers customised holiday experiences over typical agency tours. Financially-savvy and independent , Christina also maintains an investment portfolio.

To cater to the contemporary women of Singapore, UOB has enhanced and redesigned its suite of Lady’s Cards. The card suite enhancement also includes a new UOB Lady’s debit card for digital natives. To complement their high energy and love of life, the range of benefits includes one-for-one dining offers.

As e-commerce is a category where women are spending more, the bank is making it more convenient for them to shop online. All new UOB Lady’s cardmembers will enjoy instant signup for the UOB MasterPass digital wallet, which makes online payment much easier.

*The UOB Leading Ladies report presents insights gleaned from UOB card data, proprietary research and industry data.

**Year-on-year comparison, 2014 compared with 2015.

****Source: UOB card data .