Poll finds consumers in mood for saving
By Zhang Fengming |
August 6, 2010, Friday
|
Print Edition
Print Edition
CHINA'S young, single and independent consumers plan to save more now for future purchases while the older generation is generally saving more amid economic uncertainties, a MasterCard survey found.
Consumers between 18-29 years old are leading the curve in China with 51 percent of them planning to save more in the next six months as compared to the 30-plus group, MasterCard said yesterday.
Compared to a similar survey a year ago, Chinese consumers are saving more now. Economic uncertainty was cited as the main reason by 80 percent of respondents for either maintaining or raising their level of savings.
"Consumers remain uncertain about the economic outlook," said Hedrick Wong, an economic advisor at MasterCard Worldwide. "Our latest survey highlights a situation of high precautionary savings in Asia Pacific."
The survey was conducted between mid-March and April and involved 10,920 consumers in 24 markets across Asia, Middle East and Africa.
Consumers between 18-29 years old are leading the curve in China with 51 percent of them planning to save more in the next six months as compared to the 30-plus group, MasterCard said yesterday.
Compared to a similar survey a year ago, Chinese consumers are saving more now. Economic uncertainty was cited as the main reason by 80 percent of respondents for either maintaining or raising their level of savings.
"Consumers remain uncertain about the economic outlook," said Hedrick Wong, an economic advisor at MasterCard Worldwide. "Our latest survey highlights a situation of high precautionary savings in Asia Pacific."
The survey was conducted between mid-March and April and involved 10,920 consumers in 24 markets across Asia, Middle East and Africa.
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