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Published on October 31, 2007

Conducted between October 15 and 24, the survey interviewed 1,375 housewives and principal spenders of a family in the capital. Regarding per capita income, about 80 per cent of respondents said they earn less than Bt30,000 a month.

"The findings show these respondents have changed their spending behaviour and they have been tightening their belts," Kasikorn concluded.

According to the survey, respondents have eaten out less and increasingly used public transportation instead of personal cars.

Kasikorn attributed the change in consumer spending to increased prices for products and services.

Compared with a similar survey in 2006, the centre reported most respondents were cutting spending to a greater degree than in the previous period.

In the face of the consumer trend to reduce expenses, Kasikorn believes restaurants, beauty centres, tourism-related entrepreneurs, concert organisers, cinemas and beverage manufacturers need to adjust their business strategies to stay afloat.

The Nation