Adyen, a leading global financial technology platform, has released its Adyen Index 2026 Singapore Retail Report, highlighting significant shifts in consumer spending habits and the growing role of digital shopping in Singapore. The report reveals that 42% of Singaporeans are spending more than they did a year ago, with Gen Z and Millennials leading the charge at 50% and 51% respectively. This increase is partly attributed to rising living costs and a desire to “enjoy life more.”
The report also underscores the growing adoption of artificial intelligence (AI) in shopping, with 72% of Singaporeans having used AI assistants. Gen Z and Millennials are particularly receptive, with 85% and 80% using AI, making them prime audiences for AI-driven commerce. Nearly half of Singapore consumers seek a seamless shopping experience across online and in-store channels, with 43% desiring real-time product visibility.
Retailers in Singapore are also embracing AI, with 99% having implemented it in some capacity. However, 95% face barriers to wider adoption. Payment errors at checkout significantly impact consumer perception, with 59% reporting a negative impact on brand trust.
Ben Wong, General Manager of Southeast Asia and Hong Kong at Adyen, emphasised the importance of adapting to these changes, stating that the report offers “pivotal insights on industry trends” to help brands stay relevant. As Singapore’s retail landscape evolves, the integration of AI and digital solutions appears crucial for future success.
