Post by account_disabled on Dec 20, 2023 1:59:18 GMT -5
EIC Siam Commercial Bank I would like to submit an analysis on catching consumer trends in 2022 and how to adapt in the era of famine. The preparation of the EIC Consumer Survey 2022 this time had a total of 2,676 people complete the survey between 8 and 22 July 2022. The survey results can be summarized into 4 important points as follows: Point number one : The income of most consumers does not increase in line with the cost of living. “The incomes of most consumers have not increased over the past six months. Contrary to the situation of the rising cost of living. The low-income group is more likely to be affected.” This is despite the fact that consumer income trends over the past six months are better than surveys from a year earlier. But the income of most respondents remained stable with 73% of respondents. Income has not increased in the past 6 months, which, when considering income, is found to be in the low income group. (Income not exceeding 15,000 baht per month) has the highest proportion of people whose income has not increased.
While most consumers have increased their expenses recently. Reflecting the accelerating cost of living situation, more than 68% of respondents stated that They have increased their expenses in the past six months, and nearly one in four said their expenses increased by more than 10%. The increase occurred in similar proportions among consumers across all income groups. When Telegram Number Data analyzing changes in both income and expenses, it was found that the majority of people, up to 60%, had their income increase at a rate less than their expenses. In addition, 45% of consumers said that they were affected by the high cost of living situation. rose quite a lot In particular, low income groups have a higher proportion of people affected than other income groups, further emphasizing that the rising cost of living will have a greater impact on low income people. Slide1_EIC_consumer-survey-2022 The second issue :
Income that does not grow behind expenses causes consumers to face problems all around. “Income cannot keep up with rising expenses. As a result, in the past 6 months Most people have a problem of not having enough income to cover their expenses. This has a continuous impact, causing savings to decrease. And almost half of people have problems with debt repayment.” The fact that income has not grown in time with expenses in the past 6 months It may be one of the reasons why most consumers face three important economic problems : 1) the problem of not having enough income to cover expenses, 2) the problem of saving, and 3) the problem of repaying debt. 59% of consumers are facing the problem of not having enough income to cover expenses, while 77% have reduced savings or did not save at all during the said period. In addition, almost half of consumers said that They are facing problems in repaying their debts. When considering all three problems at the same time, it was found that 64% of consumers are facing only one problem, and about 42% are facing more than one economic problem at the same time, reflecting the relative fragility of the household economy. high However, groups of people facing problems often have limited financial liquidity.
While most consumers have increased their expenses recently. Reflecting the accelerating cost of living situation, more than 68% of respondents stated that They have increased their expenses in the past six months, and nearly one in four said their expenses increased by more than 10%. The increase occurred in similar proportions among consumers across all income groups. When Telegram Number Data analyzing changes in both income and expenses, it was found that the majority of people, up to 60%, had their income increase at a rate less than their expenses. In addition, 45% of consumers said that they were affected by the high cost of living situation. rose quite a lot In particular, low income groups have a higher proportion of people affected than other income groups, further emphasizing that the rising cost of living will have a greater impact on low income people. Slide1_EIC_consumer-survey-2022 The second issue :
Income that does not grow behind expenses causes consumers to face problems all around. “Income cannot keep up with rising expenses. As a result, in the past 6 months Most people have a problem of not having enough income to cover their expenses. This has a continuous impact, causing savings to decrease. And almost half of people have problems with debt repayment.” The fact that income has not grown in time with expenses in the past 6 months It may be one of the reasons why most consumers face three important economic problems : 1) the problem of not having enough income to cover expenses, 2) the problem of saving, and 3) the problem of repaying debt. 59% of consumers are facing the problem of not having enough income to cover expenses, while 77% have reduced savings or did not save at all during the said period. In addition, almost half of consumers said that They are facing problems in repaying their debts. When considering all three problems at the same time, it was found that 64% of consumers are facing only one problem, and about 42% are facing more than one economic problem at the same time, reflecting the relative fragility of the household economy. high However, groups of people facing problems often have limited financial liquidity.