Home > Business > Question of the day: is enough ever enough?

  • Print
  • Email
STREET WISE

Question of the day: is enough ever enough?

Everywhere in the world, consumers are looking for whatever fulfils their desire.



If they have huge savings, these goodies can be pricey. If they don't have any money, they can still grab stuff on loan.

But just imagine consumers in woebegone countries where little choice is available. What if they have money, but there's no place to launch a shopping spree?

As The Economist reported, the tiny North Korean rich class enjoyed visits to last month's Pyongyang Spring International Trade Fair.

Originally designed to promote business-to-business contacts, the fair has become one of the few opportunities for the nouveau riche to look at, and even buy, foreign merchandise. The most popular items were refrigerators, flat-screen television sets, DVD players, cooking pots and cosmetics. It was reported that more than 15 Haier refrigerators were sold. Priced at US$1,200 (Bt39,500), the fridge was one of the show's most expensive items.

The report confirms what the world knows about people in North Korea. While most are desperately poor, some are rich but offered limited choice. Still, they're eager to embark upon buying sprees.

This reminds me of a prediction expounded by Energy Ministry deputy permanent secretary Kurujit Nakornthap at a recent seminar. When talking about the need to diversify fuel sources for power generation, he said Thailand would have to brace for long-term rising electricity demand.

"Many poor people want to own things. We just cannot forbid these people who've never had a mobile phone, TV set or air-conditioner from buying these appliances," he said.

It's not surprising to see a rural family of four with more than one television, the one in the living room really big.

The tide is rising higher as farm goods become more pricey. People on fixed incomes are crying foul over higher fuel bills, but farmers are happy collecting a windfall for their produce. One place they're eager to spend their money is a mobile-phone shop. Maybe they cannot afford a luxury handset, but they can certainly buy a handset of their own.

Just imagine the huge number of new mobile phones that are plugged in at night and hungrily sucking up electricity. Farmers are oblivious to the country's energy import bills, but who can blame them? They are buying precious phones with their own money.


{literal} {/literal}

OTHER BUSINESS



Advertisement {literal} {/literal}

{/literal}

Search Search

Privacy Policy (c) 2007 NMG News Co., Ltd.
1854 Bangna-Trat Road, Bangna, Bangkok 10260 Thailand.
Tel 66-2-338-3000(Call Center), 66-2-338-3333, Fax 66-2-338-3334
Contact us: Nation Internet
File attachment not accepted!