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28 February 2006
Bangkok
While 75 percent of Thai Internet-users claim to have a vehicle for which they must buy fuel, an even greater number are concerned about the impact of ever-rising fuel prices. As many as 96 percent of Thai consumers claim to be feeling the hit to their wallets in a recent online survey by ACNielsen, the world’s leading market research and information company.
The survey, conducted in November 2005, polled over 23,500 consumers in 42 markets online.
You don’t need to own a car to be affected by fuel prices
Car owners aren’t the only ones concerned over growing fuel prices. Consumers evidently realize that, whether they own a car or not, fuel prices affect the economy and cost of living in general. Among the ten countries whose consumers were most concerned about high fuel prices, a number of them claimed not very high car ownership, for example, in the Philippines, Hungary and Chile.
Asking Asian consumers how they have been affected with the high fuel prices, 83 percent acknowledge their dependence on fuel prices while only 63 percent claim to own a car. Concerns are high even in more well-off countries such as Japan, South Korea and Singapore.
The five most anxious nations hail from Asia Pacific
Five of the ten countries whose consumers are most worried over high fuel prices hail from Asia-Pacific. Indonesia, Thailand and the Philippines top the list with 96 percent concerned, while Taiwan and Malaysia come close with 90 percent. Indonesia and the Philippines also lead the world with the greatest percentage of consumers extremely affected by fuel prices (59% and 57%, respectively), accompanied globally by Hungary (58%) and South Africa (53%).
Drive less – spend less
Higher fuel prices are changing people’s driving habits worldwide. In Thailand, the most common ways of coping with the prices rise is combining the errands trips (63%) followed by using the vehicle less (51%) and cutting down on non-essential living expense (45%).
In some countries where distances are greater in the cities and public transport functions well, people are switching to public transport more often, like in China (47%), Hong Kong (48%), South Korea (53%). In Thailand, 43 percent of consumers expressed the same and about a quarter would opt for using their cars when there is less traffic on the roads as well as sharing their trips with friends or relatives through car pooling although this way of economizing doesn’t appear to be particularly popular globally (10%).
“Besides all these options to cope with the escalating fuel prices, other evidence which can strongly support this study that Thai consumers are feeling the hit is as the decline in their desire to spend on out of home entertainment. from an average 45 points in May 2005 to 24 points in November as revealed by a previous published study on Global Consumer Confidence Index in 2005.” said Mrs. Chantira Luesakul, Managing Director ACNielsen (Thailand) Ltd.
The ACNielsen Online Consumer Confidence Survey, the largest twice-yearly global survey of its kind, is aimed to gauge consumers’ current confidence levels, spending habits/intentions and current major concerns. The most recent wave of the survey took place in November 2005 and polled over 23,500 consumers – regular Internet users – in 42 markets in Europe, North and Latin America, Asia-Pacific region, Africa (Republic of South Africa) and the Middle East (UAE).
About ACNielsen
ACNielsen, a VNU business, is the world's leading marketing information provider. Offering services in more than 100 countries, the unit provides measurement and analysis of marketplace dynamics and consumer attitudes and behavior. Clients rely on ACNielsen's market research, proprietary products, analytical tools and professional service to understand competitive performance, to uncover new opportunities and to raise the profitability of their marketing and sales campaigns. To learn more, visit www.acnielsen.com.
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