|
8 March 2006
Singapore
While 70 percent of Internet-users worldwide claim to have a vehicle for which they must buy fuel, an even greater number are concerned about the impact of ever-rising fuel prices. As many as 82 percent of consumers on the world’s five continents claim to be feeling the hit to their wallets in a recent online survey by ACNielsen, the world’s leading market research and information company. The survey, conducted in November 2005, polled over 23,500 respondents – regular Internet users – in 42 markets, including 500 in Singapore.
You don’t need to own a car to be affected by fuel prices
Car owners aren’t the only ones concerned over growing fuel prices. Consumers evidently realize that, whether they own a car or not, fuel prices affect the economy and cost of living in general. Among the ten countries whose consumers were most concerned about high fuel prices, a number of them claimed not very high car ownership, for example, in the Philippines, Hungary and Chile.
In Asia Pacific, 83 percent acknowledge their dependence on fuel prices, while only 63 percent claim to own a car. Concerns are high even in more well-off countries such as Japan and South Korea.
Although only 37 percent of respondents in Singapore own a car, seven in 10 (70%) claimed that higher fuel prices were having an impact on their household’s driving habits.
“The concern of rising fuel prices is less intense in Singapore compared with other markets with only around one in five locals reporting a significant impact. This is likely related to the moderate vehicle ownership level in Singapore,” commented Mr Ashok Charan, Managing Director of ACNielsen Research Singapore.
It is doubtless that the impact of escalating fuel prices is being acutely felt in the countries with the highest number of vehicles in private possession. In the US, Canada, Belgium, France, Malaysia and South Africa, high levels of concern over price increases corresponded with vehicle ownership (up to 90%).
Only in a small number of countries, namely, Denmark, Norway, Italy, the Netherlands, Switzerland, Australia, New Zealand and UAE, did the percentage of those having a vehicle exceed the percentage anxious about the cost of fuel (by +10%).
Five of the 10 countries whose consumers are most worried over high fuel prices hail from Asia-Pacific. Indonesia, Thailand and the Philippines top the list with 95 percent concerned, while Taiwan and Malaysia come close with 90 percent. Indonesia and the Philippines also lead the world with the greatest percentage of consumers extremely affected by fuel prices (59% and 57%, respectively), accompanied globally by Hungary (58%) and South Africa (53%).
Drive less – spend less
Higher fuel prices are changing people’s driving habits worldwide. The most obvious response to price hikes is simply driving less (44%) and trying to combine trips (40%), which rank as the highest ‘coping mechanisms’ in all regions except Latin America. In Latin America, 63 percent of respondents on average say they have a vehicle, but 85 percent are feeling the impact of price rises, the majority coping with it by cutting down on non-essential living expenses.
In some countries where distances are greater in the cities and public transport functions well, people are switching to public transport more often, like in Argentina (36%), Brazil (32%), China (47%), Hong Kong (48%), South Korea (53%), Taiwan (43%), Thailand (43%) and Turkey (40%).
In Singapore respondents listed ‘using public transport more’ (34%), ‘cutting down on non-essential living expenses’ (32%), and ‘trying harder to combine errand/trips’ (32%) as the three most popular ways of coping with higher fuel prices.
“As a relatively small country with an efficient and affordable public transport network, it is convenient and inexpensive to take public transport rather than drive”, said Mr Charan. He added, “Not to mention the other costs that add up, particularly when driving into the city, such as car parking and electronic road pricing (ERP) charges.”
Malaysians (28%), Indians (24%), Thais (23%), Philippines (21%), South Africans (23%), Mexicans (26%), Brasilians (17%), and people living in the UAE (19%) are opting to use their cars when there is less traffic on the roads. Thais (23%), Malaysians (17%), Finns (19%), Russians (15%), Czechs and Poles (14%) are in agreement about the benefits of car pooling and sharing their trips with friends or relatives. But this way of economizing doesn’t appear to be particularly popular globally (10%).
The ACNielsen Online Consumer Confidence Survey, the largest twice-yearly global survey of its kind, is aimed to gauge consumers’ current confidence levels, spending habits/intentions and current major concerns. The most recent wave of the survey took place in November 2005 and polled over 23,500 consumers – regular Internet users – in 42 markets in Europe, North and Latin America, Asia-Pacific region, Africa (Republic of South Africa) and the Middle East (UAE).
Click here to download report.
Back to Top
|
