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Published on November 24, 2007

Affluent Thai women are concerned about their social status, still allow their parents' opinions to influence their life decisions and almost half consider themselves the family's main financial decision maker according to a report released today by leading global market research company Synovate.

The report, entitled "The Affluent Thai Woman", contains findings from the Synovate Media Atlas study, which surveyed 460 well-off women over the age of 15 living in greater Bangkok from April 2006 to March 2007. Wealthy women account for 20 per cent of the total upscale population across greater Bangkok, coming from households that earn Bt50,000 or more each month.

Calling it a strategic guide for marketers, Steven Britton, managing director of Synovate Thailand, said the report was designed to help marketers, advertisers and media planners better understand the increasingly mobile and more financially independent Thai woman.

"Affluent Thai women are a vital segment for marketers to connect with, as they have healthy incomes and are taking more and more control of all aspects of their family's life, from where they live to what they purchase and how they access their information," Britton said.

"Most importantly, when it comes to controlling the family purse strings, 44 per cent of all affluent Thai women now consider themselves the main financial decision maker, with this figure increasing to two thirds of affluent women in their forties."

When examining their savings and borrowing habits, affluent Thai women are remarkably savvy, with more than 70 per cent saving continuously and a majority of wealthy Thai women across all age groups preferring to borrow money from family members rather than financial institutions.

"However, despite their growing control and greater financial independence, Synovate's report also reveals that affluent Thai women only start planning for their retirement in their thirties and forties, which is contrary to Western societies, which encourage retirement planning at an early age.

"Without adequate financial planning, many young affluent women may be in for a surprise in their later years," Britton added.

Synovate's report also covers ownership of credit cards, revealing that while many women in their thirties or forties have at least one credit card for spending purposes, over half (51 per cent) of women across all age groups do not yet own any form of credit card.

"Interestingly, Synovate discovered that affluent Thai women in their thirties who do own a credit card end up spending an average of over Bt16,200 per month, an impressive figure for an individual," said Britton.

The Synovate report highlights local and satellite TV viewership, local print media habits and Internet usage across the upper income sector, providing insights into what affluent female consumers watch and read and how they access the information to make their purchase decisions.

"When it comes to being informed, three quarters of affluent women prefer reading newspapers and magazines, while 79 per cent say that reading newspapers and magazines is one of their favourite pastimes," said Britton.

"Fifty five percent of these women also have Internet access at home and 63 per cent view surfing the Internet as a leisure habit, illustrating that affluent Thai women are tuned into the world and actively seeking information on new products and services.

The Nation