In a groundbreaking study, global technology company Wise has uncovered significant pricing differences in six leading fashion brands across 30 destinations. As Singaporean travelers gear up for the year-end holiday season, the study offers valuable insights into potential savings of up to 20% on average at Zara, H&M, Uniqlo, Nike, Adidas, and Levi’s stores, contingent on the destination.
Savings Galore in Select Destinations
For those planning a shopping spree, destinations like Japan, Malaysia, Indonesia, Hong Kong, and India present unique opportunities to snag fantastic deals on popular brands. Here’s a snapshot of the potential savings:
- Japan: Over 30% off for Adidas and H&M, nearly 20% off Nike and Uniqlo.
- Malaysia: Enjoy H&M at nearly 40% off, 18% off Adidas, and save over 20% on Nike.
- Indonesia: Levi’s at prices up to 36% cheaper, and 27% off Nike.
- India: Nearly 30% cheaper prices for Levi’s, 32% off Nike, and 28% off Zara.
Caution in Certain Countries
However, not all destinations are a shopper’s paradise. Wise’s study warns Singaporeans to steer clear of certain locations for Levi’s, Nike, and Uniqlo purchases:
- Mainland China: Expect to pay more than 40% extra for Levi’s and 12% more for Nike.
- Denmark: Uniqlo prices can cost up to an eye-popping 120% extra, Levi’s at more than 50%, and over 10% more for Nike.
- Hong Kong: Levi’s jeans might set a shopper back by nearly 80% more than in Singapore.
- Sweden: Anticipate up to 90% steeper prices for Uniqlo.
Shopping Smart Abroad
In addition to leveraging these price disparities, Wise offers savvy shoppers tips to save money while shopping overseas:
- Multi-Currency Card: Opt for a multi-currency card to avoid hidden transaction and fx fees. The Wise multi-currency card supports over 40 currencies.
- Local Currency Payment: Choose the local currency when withdrawing money or using a travel money card to pay in shops for cost savings.
- Beware of Hidden Fees: Watch out for currency conversion fees and marked-up exchange rates from banks, and steer clear of misleading terms like ‘fee-free.’
International price comparison: Fashion brands in Singapore vs other destinations
Methodology: Unveiling Price Insights
Wise’s comprehensive research delved into the prices of specific clothing items from major fashion brands in over 30 destinations. The analysis involved comparing prices in local online stores and currencies against the corresponding items in the Singapore online store, using exchange rates sourced from Google Finance as of 27 October 2023.
