Shoppers now savvier
A recent survey of Thai consumer habits shows that about 77 per cent of people set a specific budget for each shopping trip they plan.
This is just one of the shopping patterns that have begun to change over the past year, following increases in fuel prices, reports TNS Worldpanel Urban Thailand. Significant effects of fuel-price increases include a gradual decline in the number of visits made to stores. Rather than making numerous trips, Thai consumers are slowly resorting to bulk purchasing of necessity goods. In addition, they have also become more price-conscious. Lately, 67 per cent of consumers compare the price of a product with the volume they are getting in return. Supporting this claim, 81 per cent of respondents to the survey agreed that price was the most important factor when making a purchase. The survey organisation said Thailand's urban households now contained an average of three or fewer individuals and that consumers were becoming more career-minded. With household sizes becoming smaller and consumers more pressed for time, convenience has become a key factor for many in deciding to shop. Fifty-one per cent of consumers rely heavily on convenience foods. TNS Worldpanel Urban Thailand general manager David Fell said consumers here were no different from those in other countries, both developed and developing. The "time-poor, cash-rich" consumer is not just looking for convenience, but also value for money. To satisfy shoppers, retailers and manufacturers need to be viewed as offering added value while delighting consumers with new innovations and products. With current economic uncertainties, Thai shoppers are looking for discounts and deals. TNS Worldpanel Urban Thailand's lifestyle survey is conducted once a year among 2,000 household panellists and highlights factors that are important to the Thai shopper. The organisation claims that with more than 150 attitudinal statements, its study provides greater depth in terms of consumer profiling than does standard demographic studies. The survey allows manufacturers and retailers to understand how consumers change their behaviour from year to year in terms of purchasing products.
|
