Study shows Thai consumer confidence at a low

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BANGKOK -- Confidence in the Thai economy is low and consumers are modifying their spending habits accordingly, reports a study by Damask/ BBDO in Thailand. "The purpose of the study was simple," says Damask/BBDO's Deputy Managing Director Kent Wertime. "With all the bad economic news in the press, we wanted to gauge how it is affecting the average consumer on the street. We wanted to see if their confidence level is changing their loyalty to the products they buy."

The study found that a large majority of consumers, at least in Bangkok, are concerned and are trying to manage their spending more carefully until they see what the future holds. Wertime says people are delaying major purchases, such as houses and cars. "But they are not flocking away from the packaged goods brands they normally use, at least not yet. Most say, however, they are paying a little more attention to discount offers."

Thailand experienced double-digit growth in the late-1980s and early-1990s. The economy started to slip two years ago. Growth this year is expected to be around 5%.

Copyright June 1997, Crain Communications Inc.

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