Gen Z and Millennials led higher spending and social commerce. Rising costs are reshaping consumer spending in Singapore, with 42% of consumers spending more than a year ago, whilst 25% are spending less, according to the Adyen Index 2026 Singapore Retail Report. Amongst those spending more, 62% cited the rising cost of living and changes in interest rates as the main reasons. Gen Z spent an average of S$104 per purchase via social media shopping platforms, whilst Millennials spent S$106. AI adoption was highest amongst younger consumers, with 85% of Gen Z and 80% of Millennials using AI assistants for shopping.