Sri Lankan consumers are more concerned about the education of their children than anything else, a new survey has shown. Their main concern is the children’s future, their education, tuition, extracurricular activities and making savings for them, according to Saheen Cader, Director, Client Service of the Nielsen Company Lanka (Pvt) at a media presentation in Colombo.
Speaking on consumer trends, he said that it is uncertain as to whether consumers will spend more in the next few months although inflation has dropped to a single digit. He noted that a recent survey conducted by his company revealed that rural consumers are buying more Fast Moving Consumer Goods (FMCGs) while urban consumers are reducing consumption. Some 75% of FMCG items are being sold at a price lower than Rs 35 he said.
Mr Cader expressed optimism that Sri Lanka should turn around in mid 2010 and marketers who are focusing on brand building now should reap the benefits of the end of war while the economy gets into high gear. He added that consumers and businessmen will have to contend with upcoming elections, dig deeper into their pockets to pay even more taxes, and put investment and expansion plans on hold for the time being.