WHEN they feel the need for some serious belt-tightening, Filipinos will not hesitate to cut down the most on spending for personal technology, and energy; at least among those covered by a global online survey conducted by market research group, AC Nielsen.
The survey polled some 23,500 respondents, all of whom are regular Internet users.
Of the 42 markets covered by the survey, Pinoys topped the list of those whose biggest spending cutbacks will be on new mobile phones and personal computers, as well as gas and electricity.
Against a global average of 48 percent, close to two-thirds or 61 percent of Filipinos would delay upgrading their technology if the going got tough. Filipinos were also found to be most likely to cut down on energy sources, with 69 percent of respondents saying that would be on top of their list of cutbacks.
Globally, 57 percent of the respondents said they would cut back on home entertainment; 53 percent would forgo buying new clothes; and 48 percent would delay an upgrade of personal technology.
“When the cost of living is rising faster than salaries can keep pace with,” says AC Nielsen’s report, “the world’s consumers are fairly unanimous about what they’d cut back on to avoid blowing their budget.”
Thus, the survey found, consumers will opt for staying home to entertain themselves, or making do with their old clothes and old mobile phones, skipping annual family vacations, or turning out the lights for longer periods of time to save on electricity bills.
By region, the following were the top three conservation measures, according to priority:
North America: Take-away meals; Out of home entertainment; Gas and electricity
Europe: Out of home entertainment; Clothes; Personal technology
Asia Pacific: Out of home entertainment; Take-away meals; Clothes
Latin America: Out of home entertainment; Personal technology; Clothes
“To a degree,” says AC Nielsen, “the strategies reflect lifestyles in each region, and the potential for where the biggest saving can be made. It also reflects priorities – where consumers will look first to cut back, and also where they are not prepared to make concessions.”
For instance, said the report, the least likely to scrimp on electricity bills are the Russians, Finns, and Swedish, “where perhaps the long nights and need for warmth override the need to cut costs.”
Read the report.