On Sunday? Don't believe, go and see! Or maybe it was our high GINI index who was playing tricks on us?
Dec 5, 2008
S'poreans fear 'losing jobs and going hungry'
Consumer poll of 10 places finds joblessness a common major worry
By Michelle Tay
HAVING a rice bowl - and being able to eat from it - matters most to Singaporeans.
A new survey has found that even before Singapore announced in October that it was in a technical recession, Singaporeans' greatest fears were unemployment and insufficient food.
Synovate, a global market research company, surveyed the consumer attitudes of 7,400 respondents in 10 economies between August and November.
The firm found that four out of 10 Singaporeans listed 'losing my job' as their top fear in relation to Singapore going into a recession.
Their second-biggest fear was being 'unable to afford sufficient food'.
Nearly three out of 10 Singaporeans said holidays would be the first to go when it came to belt-tightening. Next were brand-name items - singled out by 18 per cent of respondents - while 13 per cent named high-tech gadgets.
Companies across all sectors are retrenching staff. The latest figures show the resident unemployment rate here was 3.3 per cent in the third quarter, up from 3.1 per cent in the previous quarter. The jobless rate in the US, the origin of the financial turmoil, hit a five-year high of 6.5 per cent in October.
Clearly, the fear of losing one's rice bowl is not unique to Singaporeans.
Respondents in six out of the 10 countries and territories surveyed - including Hong Kong, Taiwan, Malaysia, the Philippines and Russia - also listed that as their biggest fear.
Being unable to pay the mortgage or rent was Americans' top fear, followed by the fear of losing their jobs.
Another key worry of those abroad was losing money from investments - something which has affected countless global investors.
But in the shopping capital Hong Kong, 14 per cent of respondents said they were afraid of 'giving up luxuries'.
Meanwhile, 56 per cent of Singaporeans surveyed said they spent less on luxury goods in the past six months. They also cut down on impulse buying and even necessities.
Market consultants said brands should continue to invest in marketing to remain visible to consumers.
Mr David Mayo, vice-president of Ogilvy & Mather Advertising Asia Pacific, said: 'The people who will benefit are those who can provide an all-encompassing customer experience.
'A recession is the point to pick up new customers. And coming out of a recession is when you make them loyal customers.'
[email protected]
Dec 5, 2008
S'poreans fear 'losing jobs and going hungry'
Consumer poll of 10 places finds joblessness a common major worry
By Michelle Tay
HAVING a rice bowl - and being able to eat from it - matters most to Singaporeans.
A new survey has found that even before Singapore announced in October that it was in a technical recession, Singaporeans' greatest fears were unemployment and insufficient food.
Synovate, a global market research company, surveyed the consumer attitudes of 7,400 respondents in 10 economies between August and November.
The firm found that four out of 10 Singaporeans listed 'losing my job' as their top fear in relation to Singapore going into a recession.
Their second-biggest fear was being 'unable to afford sufficient food'.
Nearly three out of 10 Singaporeans said holidays would be the first to go when it came to belt-tightening. Next were brand-name items - singled out by 18 per cent of respondents - while 13 per cent named high-tech gadgets.
Companies across all sectors are retrenching staff. The latest figures show the resident unemployment rate here was 3.3 per cent in the third quarter, up from 3.1 per cent in the previous quarter. The jobless rate in the US, the origin of the financial turmoil, hit a five-year high of 6.5 per cent in October.
Clearly, the fear of losing one's rice bowl is not unique to Singaporeans.
Respondents in six out of the 10 countries and territories surveyed - including Hong Kong, Taiwan, Malaysia, the Philippines and Russia - also listed that as their biggest fear.
Being unable to pay the mortgage or rent was Americans' top fear, followed by the fear of losing their jobs.
Another key worry of those abroad was losing money from investments - something which has affected countless global investors.
But in the shopping capital Hong Kong, 14 per cent of respondents said they were afraid of 'giving up luxuries'.
Meanwhile, 56 per cent of Singaporeans surveyed said they spent less on luxury goods in the past six months. They also cut down on impulse buying and even necessities.
Market consultants said brands should continue to invest in marketing to remain visible to consumers.
Mr David Mayo, vice-president of Ogilvy & Mather Advertising Asia Pacific, said: 'The people who will benefit are those who can provide an all-encompassing customer experience.
'A recession is the point to pick up new customers. And coming out of a recession is when you make them loyal customers.'
[email protected]
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