A study of women aged 18 to 25 and from 26 to 35 has found that travel is their top priority now when it comes to spending their disposable income, surpassing fashion which had been the number one spend category in the last five years.
The revelation came as Singapore's United Overseas Bank relaunched their Lady's Card rewards programme to make sure there was a focus around fashion and travel.
Ms Jacquelyn Tan, Head of Personal Financial Services Singapore at United Overseas Bank, said: "Since launching Singapore's first dedicated card for women in 1989, we can see that what works for one set of women today may not for the same set tomorrow. Over many years, we have ensured the Lady's Card has remained contemporary with the changing priorities of women to the point that one in five women in Singapore now holds a UOB Lady's Card. Currently, the Bank serves one in two women in Singapore, and through the transactional data and insights we have gained, we are continually upgrading our card to ensure it always meets the lifestyle and life choices of women.
"Every woman is different and in recognition of this individuality, we have created a programme that is unique to each cardmember. For instance, a mother may be planning to take her children overseas during the next school holidays and can choose travel for that quarter to maximise her rewards. During the Lunar New Year, she may change it to the family category as she prepares for traditional celebrations such as her Reunion family dinner. We believe the flexibility around rewards will make the UOB Lady's Card one of the most formidable cards in the market."