Bangkok--29 Aug--124 Communications Consulting
The latest Survey on Consumer Purchasing Priorities as of the first half of 2013 from MasterCard — a leading technology company in the global payments industry — shows that Thai consumers are more disciplined in their money management when compared with other countries in Asia/Pacific region[1]. Ninety-six per cent of Thai consumers claim that they plan to save more or the same in the coming 6 months, compared with the previous 6 months, which is the highest in the region. Savings are driven by precautionary sentiments — with investments being the top reason (64%) followed by retirement (62%).
The survey reveals that 92% of Thai consumers report that they have the ability and understanding to budget their day-to-day finances, while 79% keep track of their spending on a weekly/monthly basis. The usage of mobile applications also plays an important role in managing money among Thai customers, with 37% claim they are currently using such applications for financial management and will continue to do so in the future. Such number is the highest when compared with customers from other countries within the region.
At regional level, equal proportions from the total Asia/Pacific sample say they plan to save more in the future, and the other half tend to keep the same savings amount. While close to 90% of Asia/Pacific consumers claim to understand budgeting, a third confess to having problems setting money aside and 4 in 10 have problems keeping up with bills.
Moreover, the survey reveals that the length of time the target group can survive on savings alone is 5 months on average. As for consumers in Thailand, the average proportion of total income to save in the next 6 months is 21%, which is slightly higher when compared with the regional average resulting in 19%.
MasterCard Survey on Consumer Purchasing Priorities is conducted bi-annually in order to understand consumer outlook on spending priorities — travel, dining & entertainment, education, money management and luxury shopping across key demographics in Asia, Middle East, and Africa. Among the total respondents, 408 residents in Thailand between the ages of 18 and 64 years old who own a bank account were interviewed through online channel. Quotas place on age, gender, and ethnicity as per banked population. The data collection period was between March and April 2013. The survey and its accompanying reports do not represent MasterCard’s financial performance.
Media contacts:
124 Communications Consulting Co., Ltd Tel 0 2718 1886