This Credit Suisse Emerging Consumer Survey Databook provides granular detail of the market research that underpins the conclusions and themes highlighted in the Credit Suisse Emerging Consumer Survey 2012, a comprehensive and exclusive study of the consumption patterns and plans of individuals residing in eight key economies across the emerging world. Specifically, the markets we have incorporated in this survey are China, India, Brazil, Russia, Saudi Arabia, Egypt, Indonesia and Turkey. In total, these markets account for over 3.3 billion people.
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1. Emerging Consumer
Survey Databook 2012
January 2012
Research InstituteThought leadership from Credit Suisse Research
and the world’s foremost experts
2. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
Table of contents
Introduction 3
Credit Suisse Consumer Survey Universe 4
Brazil 5
China 26
Egypt 47
India 68
Indonesia 89
Russia 110
Saudi 131
Turkey 152
Methodology 173
Appendix: Questionnaire 174
About the survey 177
Imprint 178
General disclaimer / Important information 179
For more information, please contact:
Michael O’Sullivan, Head of Portfolio Strategy
and Thematic Research at Credit Suisse
Private Banking
michael.o’sullivan@credit-suisse.com
Mujtaba Rana, Analyst
Thematic Equity Research at Credit Suisse
Investment Banking
mujtaba.rana@credit-suisse.com
3. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
Introduction
This Credit Suisse Emerging Consumer Survey Databook provides granular detail of the
market research that underpins the conclusions and themes highlighted in the Credit
Suisse Emerging Consumer Survey 2012, a comprehensive and exclusive study of the
consumption patterns and plans of individuals residing in eight key economies across the
emerging world. Specifically, the markets we have incorporated in this survey are China,
India, Brazil, Russia, Saudi Arabia, Egypt, Indonesia and Turkey. In total, these markets
account for over 3.3 billion people.
As comprehensive as this Databook is, we have not provided every aspect of the detail
which can be derived from the survey along the lines of gender, age, city and rural/urban
locations. This is available on request. The pages that follow have focused on income
bands as a source of disaggregation of the responses which was a principal feature of the
themes we have explored.
This report builds on work Credit Suisse published on consumption trends in emerging
markets 12 months ago, The Emerging Consumer Survey 2011. This was in itself an
entension to the China Consumer Survey, a publication from Credit Suisse released
annually since 2005. The survey structure and questionnaire used in this previous work
has been used as a template for this project, ensuring both a degree of consistency with
previous work and a comparable dataset across the different countries.
To conduct the primary research for this project, the Credit Suisse Research Institute
engaged the global market research firm AC Nielsen to advise on the questionnaire
construction and to undertake the interview process on our behalf. Using a global firm with
local offices has provided a consistent approach to this multi-region survey, as well as
allowing sufficient flexibility to incorporate questions specific to the countries concerned.
This survey is designed to capture information regarding the spending patterns (past,
present and future) and general lifestyles and aspirations of the consumers across these
markets. The data is proprietary to Credit Suisse and is based on face-to-face interviews
carried out in 75 distinct regional areas, spread over the eight different countries. Data
from such a sample will vary in quality due to the sampling and non-sampling problems
inherent in all surveys. Approximately 1,500 respondents were surveyed for each region,
with the largest two markets (India and China) having a larger sample size of 2,500 each.
The male-to-female split between respondents was roughly 50:50 in all cases, with rural-
to-urban split varying by country.
A total of almost 14,500 respondents were screened and surveyed on questions within 12
categories: 1) general income and wealth, 2) autos, 3) food and beverages, 4) household
and personal care, 5) luxury goods, 6) technology, 7) telecoms, 8) internet, 9) travelling,
10) property, 11) education and 12) healthcare. Detailed results from each of the eight
markets are shown in the "Country Specific Data" section from page 5. The survey
methodology is described on page 173.
Although each respondent was asked up to 125 questions during the course of the survey,
the Databook aims to present detailed information on those areas which investors may
find most compelling and those which garnered the most thought-provoking ideas during
the course of our study. Certain topics are more pertinent in some markets than others:
questions on holiday plans yielded far more interesting results in Russia and Saudi Arabia
than they did in Egypt, for instance. Similarly, questions on stock market investments are
more pertinent in China than they are in Indonesia. Nevertheless, for the sake of
consistency, we have included a standard set of results for each market in this Databook.
Numbered references within the tables, such as A7 and D5, allude to specific questions
surveyed, a list of which can be found in the appendix. More detail is available on request.
Mujtaba Rana
Equity Research, Credit Suisse Investment Banking
4. January2012
CreditSuisseEmergingConsumerSurveyDatabook2012Source:CreditSuisseEmergingConsumerSurvey2012
Credit Suisse Consumer Survey Universe
Russia (11%*)
GDP: $1,894.3 bn
Consumption: $945.3 bn (50%)
GDP Growth (2011E): 4.29%
China (18%*)
GDP: $6,476.2 bn
Consumption: $2085.3 bn (32%)
GDP growth (2011E): 9.47%
India (18%*)
GDP: $1,700 bn
Consumption: $827.9 bn (49%)
GDP growth (2011E): 7.84%
Indonesia (11%*)
GDP: $813.9 bn
Consumption: $454.2 bn (56%)
GDP growth (2011E): 6.4%
Brazil (11%*)
GDP: $2447.8 bn
Consumption: $1520.1 bn (62%)
GDP growth (2011E): 3.77%
Egypt (11%*)
GDP: $248.6 bn
Consumption: $174 bn (70%)
GDP growth (2011E): 1.22%
Saudi Arabia (11%*)
GDP: $580.7 bn
Consumption: $153.3 bn (26%)
GDP growth (2011E): 6.47%
Russia (11%*)
GDP: $1,894.3 bn
Consumption: $945.3 bn (50%)
GDP Growth (2011E): 4.29%
China (18%*)
GDP: $6,476.2 bn
Consumption: $2085.3 bn (32%)
GDP growth (2011E): 9.47%
India (18%*)
GDP: $1,700 bn
Consumption: $827.9 bn (49%)
GDP growth (2011E): 7.84%
Indonesia (11%*)
GDP: $813.9 bn
Consumption: $454.2 bn (56%)
GDP growth (2011E): 6.4%
Brazil (11%*)
GDP: $2447.8 bn
Consumption: $1520.1 bn (62%)
GDP growth (2011E): 3.77%
Egypt (11%*)
GDP: $248.6 bn
Consumption: $174 bn (70%)
GDP growth (2011E): 1.22%
Saudi Arabia (11%*)
GDP: $580.7 bn
Consumption: $153.3 bn (26%)
GDP growth (2011E): 6.47%
Note:
1.Total GDP for the country shown in nominal US $ (2011E).
2.* % of survey sampled from this country
3.Country GDP from IMF
4.Consumption from UN data
2012 Credit Suisse Emerging Consumer Survey
Number of respondents : 14,232
Across 8 countries
70% in urban areas; 30% in rural areas
2012 Credit Suisse Emerging Consumer Survey
Number of respondents : 14,232
Across 8 countries
70% in urban areas; 30% in rural areas
Turkey (11%*)
GDP: $846.5 bn
Consumption: $601 bn (71%)
GDP growth (2011E): 6.59%
Source: Credit Suisse Emerging Consumer Survey 2012
5. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
Brazil
Living for today
The Brazilian consumer continues to stand out as the most optimistic across our survey.
The momentum of income growth provides an underpinning to discretionary spending as it
has over the last year. The Brazilian typically spends not saves. There is an appetite for
real assets such as property if not financial assets.
At 58%, the weighted average balance of respondents are more positive in Brazil than in
any other country. In addition, this measure of optimism has seen only a minor step down
at the lower income end relative to last year’s survey. The general breadth of the optimism
across the overall population looking ahead tends to set Brazil apart, notwithstanding the
historical unequal income distribution.
Income expectations are underpinning this sense of optimism. On average, the Brazilian
consumer is expecting one of the highest rates of household income growth among the
countries surveyed, with the majority expecting increases in excess of 10%, or around 5%
in real terms. Strong nominal income growth in the last year also shielded the consumer in
Brazil from inflation better than in other countries.
The survey reveals that spending behaviour proved more robust in the last year than
elsewhere including spending in the more discretionary areas.
Finally, among the wealthier consumers in the survey (GDP per capita of $12,400), the
savings behaviour is striking in that so little of income is saved. Barely 7% of household
income is registered as saved and over a half of respondents suggest they have no extra
cash for savings. Given the strength of projected real income growth, this is extraordinary.
It is more typical of the countries where the consumer is being seriously squeezed than
one where finances seem robust.
Statistics
GDP (2011) $2,447.8 bn
GDP per capita (2011) $12,423
Population (2011) 197.04 mn
Geographical area 8.51 mn km2
Number of cities (in excess of 2
million people)
6
Gini coefficient (2009) 55.0
Average inflation (2011E) 6.6%
Average inflation (2012E) 5.2%
Real GDP growth (2011E) 3.8%
Real GDP growth (2012E) 3.6%
Current account % of GDP
(2011E)
-2.3%
Current account % of GDP
(2012E)
-2.5%
Consumption as a % of GDP
(2011)
62.1%
Statistics
GDP (2011) $2,447.8 bn
GDP per capita (2011) $12,423
Population (2011) 197.04 mn
Geographical area 8.51 mn km2
Number of cities (in excess of 2
million people)
6
Gini coefficient (2009) 55.0
Average inflation (2011E) 6.6%
Average inflation (2012E) 5.2%
Real GDP growth (2011E) 3.8%
Real GDP growth (2012E) 3.6%
Current account % of GDP
(2011E)
-2.3%
Current account % of GDP
(2012E)
-2.5%
Consumption as a % of GDP
(2011)
62.1%
2012 Emerging Consumer Survey
Number of respondents : 1,500
Across 5 geographic locations
70% in urban areas; 30% in rural areas
2012 Emerging Consumer Survey
Number of respondents : 1,500
Across 5 geographic locations
70% in urban areas; 30% in rural areas
Sao Paulo ( 40% )
GDP: $388bn
Sao Paulo ( 40% )
GDP: $388bn
Rio de Janeiro ( 20% )
GDP: $201bn
Rio de Janeiro ( 20% )
GDP: $201bn
Recife ( 20% )
GDP: $35bn
Recife ( 20% )
GDP: $35bn
Porto Alegre ( 10% )
GDP: $66bn
Porto Alegre ( 10% )
GDP: $66bn
Belo Horizonte ( 10% )
GDP: $61bn
Belo Horizonte ( 10% )
GDP: $61bn
Note:
1.All city level GDP figures are 2009
est. at PPP (PWC), total GDP for the
country shown in nominal US$.
2.* % of survey sampled from this area
3.Country GDP , inflation, CA ,
population data from IMF, Gini from
UNDP, area from CIA World Factbook,
city population from CityPopulation
4.GDP per capita: World Development
Indicators-World Bank, consumption as
a % of GDP from UN data
6. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
Brazil: Spending sentiment
Figure 1: Country product purchasing in 2011 vs survey average
Cars
Carbonated drinks
Beer
Spirits
Dairy
Cosmetics
Fashion apparelSports shoes
Watches
Perfume
Computers
Mobile phones
Smartphone
Internet access
Holidays
Property
Extra education
Private healthcare
0
10
20
30
40
50
60
70
80
90
100
0 10 20 30 40 50 60 70 80 90 100
% respondents with exposure on average across the EM Consumer Survey
%respondentsinBrazil,2011
Greater penetration in Brazil
EM consumer survey
average
Source: Credit Suisse emerging markets consumer survey.
Figure 2: Country product purchasing in 2011 vs change over 2010
Cars
Carbonated drinks
BeerSpirits
Dairy
Cosmetics
Fashion apparel
Sports shoes
Watches
Perfume
Computers
Mobile phonesSmartphone
Internet access
Holidays
Property
Extra education
Private healthcare
-20
-15
-10
-5
0
5
10
15
0 10 20 30 40 50 60 70 80 90 100
2011 % respondents that own or have bought each item
Recordedspendingin2011vs2010
Source: Credit Suisse emerging markets consumer survey.
Figure 3: Momentum in country purchasing vs momentum in survey average
Cars
Carbonated drinks
BeerSpirits
Dairy
Cosmetics
Fashion apparel
Sports shoes
Watches
Perfume
Computers Mobile phones
Smartphone
Internet accessHolidays
Property
Extra educationPrivate healthcare
-17
-12
-7
-2
3
8
-6 -4 -2 0 2 4 6
EM Survey -Spending momentum vs 2010 %
Brazil-Spendingmomentumvs2010%
Greater growth in Brazil
EM consumer survey
average
Source: Credit Suisse emerging markets consumer survey.
7. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
Brazil: Demographics
Figure 4: A6. Could you please tell me your age? Figure 5: N2. What is your total after tax monthly income?
32
41
17
10
0
10
20
30
40
50
18-29 30-45 46-55 56-65
%ofrespondents
0
15
19
31
11
5
3 3 2
0
5
10
15
20
25
30
35
Less
than R$
489
R$ 490
- R$
1,141
R$
1,142 -
R$
1,630
R$
1,631 -
R$
3,260
R$
3,261 -
R$
4,890
R$
4,891 -
R$
6,520
R$
6,521 -
R$
8,150
R$
8,151 -
R$
11,410
More
than R$
11,411
%ofrespondents
Note: Sample size: 1500 respondents across 5 geographical regions
Figure 6: Urban / Rural split Figure 7: Male / Female split
29
71
0
20
40
60
80
100
Rural Urban
%ofrespondents
50 50
0
10
20
30
40
50
60
Male Female
%ofrespondents
Figure 8: A9. How many people live in your household?
% of respondents
(by income
bracket)
Total Less
than
R$ 489
R$ 490 -
1,142
R$ 1,142
- 1,630
R$ 1,631
- 3,260
R$ 3,261
- 4,890
R$ 4,891
- 6,520
R$ 6,521
- 8,150
R$ 8,151
- 11,410
More
than R
$ 11,411
Would
prefer not
to answer
Don’t
Know
1 5 0 9 8 4 1 0 2 5 0 4 0
2 17 25 23 18 17 12 15 12 12 3 14 7
3 25 25 27 27 25 18 22 32 26 31 27 23
4 30 50 25 25 30 40 43 17 36 41 33 32
5 or more 23 0 16 22 24 29 20 37 21 25 22 39
Median 3.52 3.25 3.17 3.35 3.54 3.85 3.68 3.73 3.57 3.88 3.55 4.02
Figure 9: A12. How many children does your household have?
1 52 33 44 53 53 45 44 82 67 69 52 58
2 36 67 40 34 34 45 47 9 33 23 32 37
3 8 0 9 7 8 6 9 9 0 8 12 5
4 3 0 3 4 3 1 0 0 0 0 4 0
5 or more 2 0 3 1 1 3 0 0 0 0 0 0
Median 1.67 1.67 1.83 1.66 1.66 1.73 1.65 1.27 1.33 1.38 1.68 1.47
8. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
Figure 10: A15. In your opinion is now a good time to make a major purchase?
25
7 16
21 26 30 35 41 39 43
41
75
57 57 54 52 49 54 48 44
910121416
0%
20%
40%
60%
80%
100%
Less than R$
489
R$ 490 - R$
1,141
R$ 1,142 - R$
1,630
R$ 1,631 - R$
3,260
R$ 3,261 - R$
4,890
R$ 4,891 - R$
6,520
R$ 6,521 - R$
8,150
R$ 8,151 - R$
11,410
More than R$
11,411
%ofrespondents
Excellent time Good time Not such a good time A bad time
Figure 11: A15 (b) – In your opinion is now a good time to make a major purchase? Percentage of respondents who are
positive minus percentage who are negative
-50
-46 -43
-32
-25
-16
-12
0
13
-50
-30
-10
10
Less than R$ 489 R$ 490 - R$
1,141
R$ 1,142 - R$
1,630
R$ 1,631 - R$
3,260
R$ 3,261 - R$
4,890
R$ 4,891 - R$
6,520
R$ 6,521 - R$
8,150
R$ 8,151 - R$
11,410
More than R$
11,411
%ofrespondents
Figure 12: A16. Do you think the state of your own finances over the next 6 months will be better, worse or about the
same?
75
49 59 60 59 65 68
57
84
42
35 35 38 31 29
38
16
0%
20%
40%
60%
80%
100%
Less than R$
489
R$ 490 - R$
1,141
R$ 1,142 - R$
1,630
R$ 1,631 - R$
3,260
R$ 3,261 - R$
4,890
R$ 4,891 - R$
6,520
R$ 6,521 - R$
8,150
R$ 8,151 - R$
11,410
More than R$
11,411
%ofrespondents
Better About the same Worse
Figure 13: A16 (b) – Do you think the state of your own finances over the next 6 months will be better, worse or about
the same? Percentage of respondents who are positive minus percentage who are negative
75
40
53 55 56 61 66
52
84
0
20
40
60
80
100
Less than R$ 489 R$ 490 - R$
1,141
R$ 1,142 - R$
1,630
R$ 1,631 - R$
3,260
R$ 3,261 - R$
4,890
R$ 4,891 - R$
6,520
R$ 6,521 - R$
8,150
R$ 8,151 - R$
11,410
More than R$
11,411
%ofrespondents
Source: Credit Suisse emerging markets consumer survey.
NB: Income brackets based on average monthly household income.
9. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
Brazil: Income and Other
Figure 14: N1. What savings or investment channels, if any, does your household use to save money?
% of
respondents
(by income
bracket)
Total Less
than
R$ 489
R$ 490 -
1,142
R$ 1,142
- 1,630
R$ 1,631
- 3,260
R$ 3,261
- 4,890
R$ 4,891
- 6,520
R$ 6,521
- 8,150
R$ 8,151
- 11,410
More
than R
$ 11,411
Would
prefer
not to
answer
Don’t
Know
Bank account 44 25 17 28 50 58 65 61 81 81 53 39
Life insurance 8 0 0 3 6 10 16 32 43 41 13 5
Stock market 1 0 0 0 0 0 0 5 5 6 2 0
Cash 9 0 4 6 8 12 20 12 21 31 9 9
Mutual Fund 1 0 0 0 1 0 2 5 2 9 0 0
Property 3 0 0 1 0 2 1 12 24 25 5 2
No savings 53 75 82 71 48 40 26 22 7 9 42 59
Base : Unwtd 1500 4 231 283 472 164 81 41 42 32 106 44
Figure 15: N3. To what extent has your household income changed in the last 12 months?
Declined > 20% 3 50 9 4 2 1 0 2 0 3 2 0
-10% to -20% 6 0 7 6 7 5 6 7 7 6 0 7
-10% to flat 9 0 10 11 8 10 7 12 5 9 8 2
Unchanged 43 50 47 49 41 40 43 34 45 28 37 43
Flat to +10% 22 0 19 20 26 18 20 17 19 16 26 16
+10 to +20% 10 0 5 7 8 15 15 22 10 16 16 25
+20 to +30% 4 0 2 1 3 5 5 5 10 6 6 5
30%+ 3 0 1 1 5 5 4 0 5 16 2 0
Base : Unwtd 1500 4 231 283 472 164 81 41 42 32 106 44
Figure 16: N4. In what way do you expect your household income to change in the next 12 months?
Declined > 20% 1 0 2 1 1 1 0 2 2 0 0 2
-10% to -20% 3 0 7 2 3 3 1 2 2 0 1 2
-10% to flat 3 0 5 4 3 1 4 0 0 0 1 2
Unchanged 28 0 33 30 25 25 27 29 31 16 30 34
Flat to +10% 24 50 24 28 24 23 23 20 17 28 17 11
+10 to +20% 20 25 16 19 25 22 15 17 10 6 17 30
+20 to +30% 11 0 4 9 10 14 17 24 26 25 15 11
30%+ 10 25 8 7 11 12 12 5 12 25 15 5
Base : Unwtd 1500 4 231 283 472 164 81 41 42 32 106 44
Figure 17: N5. What proportion of your spending is done via credit cards?
0-5% 4 0 5 5 3 7 5 5 0 0 1 5
6-10% 8 0 6 10 8 13 7 5 10 9 6 5
11-15% 7 0 3 8 9 8 4 12 5 9 8 0
16-20% 5 0 3 3 6 9 6 10 2 3 6 2
21-25% 7 0 6 7 7 6 9 5 10 16 8 7
More than 25% 24 0 12 13 25 32 49 46 50 50 25 9
No credit card 38 100 56 50 37 23 15 12 14 9 26 52
Mean % exp 21 0 19 17 21 20 24 23 25 24 22 19
Base : Unwtd 1500 4 231 283 472 164 81 41 42 32 106 44
Figure 18: N6. How do you think your purchases on credit card are likely to change in the next 12 months?
Rising 31 0 32 20 28 34 35 41 31 38 46 29
Staying the same 52 0 51 61 50 48 54 53 50 52 49 57
Decreasing 17 0 17 20 22 18 11 6 20 10 5 14
Base : Unwtd 933 0 101 141 296 126 69 36 36 29 78 21
10. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
Brazil: Automobiles
Figure 19: B1. Does your household currently own a car that is driven for personal use?
% of
respondents
(by income
bracket)
Total Less
than
R$ 489
R$ 490 -
1,142
R$ 1,142
- 1,630
R$ 1,631
- 3,260
R$ 3,261
- 4,890
R$ 4,891
- 6,520
R$ 6,521
- 8,150
R$ 8,151
- 11,410
More
than R
$ 11,411
Would
prefer
not to
answer
Don’t
Know
Yes 54 0 18 35 56 82 90 86 97 100 70 58
No 46 100 82 65 44 18 10 14 3 0 30 42
Figure 20: B2. Does your household own a motorcycle / 2-wheeler for personal use?
Yes 14 0 11 9 15 17 21 11 21 23 14 11
No 86 100 89 91 85 83 79 89 79 77 86 89
Figure 21: B3. How many cars do you own in your household?
1 72 0 90 92 84 77 59 53 19 12 59 59
2 22 0 10 8 16 22 35 28 65 23 24 36
3 or more 6 0 0 0 0 2 6 19 16 65 17 5
Figure 22: B5. How long ago did you purchase this car?
1 year or less 36 0 43 32 35 37 29 50 27 54 32 36
2 to 4 years 49 0 30 54 48 49 54 47 65 42 47 50
5 to 7 years 13 0 23 9 14 14 17 0 8 4 17 5
8 to 10 years 2 0 3 3 2 1 0 0 0 0 3 5
More than 10
years ago
1 0 3 2 1 0 0 3 0 0 0 5
Base : Unwtd 729 0 40 93 242 115 63 32 37 26 59 22
Figure 23: B7. How did you finance it?
All Cash 25 0 15 22 26 26 25 25 32 35 25 27
Cash + Auto
loan
53 0 53 54 50 51 60 72 59 62 49 32
All Auto loan 15 0 25 13 17 20 10 3 5 4 15 5
Sum 100 0 100 100 100 100 100 100 100 100 100 100
Base : Unwtd 729 0 40 93 242 115 63 32 37 26 59 22
Figure 24: B10. Will you or your family purchase or replace a passenger car in the next 12 months?
1
6 8
13 11
8 8
15
4
10 10
16
19
14
21
1212
15
20
16 14
24
13
23
19 21
18 16
24
14
18
15
59
45
38
21
38 37
27
37
0
20
40
60
R$ 490 - R$
1,141
R$ 1,142 - R$
1,630
R$ 1,631 - R$
3,260
R$ 3,261 - R$
4,890
R$ 4,891 - R$
6,520
R$ 6,521 - R$
8,150
R$ 8,151 - R$
11,410
More than R$
11,411
Income Bracket
%ofrespondents
Definitely will Probably will Not sure Probably won’t Definitely won’t
Source: Credit Suisse emerging markets consumer survey
11. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
Figure 25: B11. Thinking about the car you will purchase, will it be a new or used car?
% of
respondents
(by income
bracket)
Total Less
than
R$ 489
R$ 490 -
1,142
R$ 1,142
- 1,630
R$ 1,631
- 3,260
R$ 3,261
- 4,890
R$ 4,891
- 6,520
R$ 6,521
- 8,150
R$ 8,151
- 11,410
More
than R
$ 11,411
Would
prefer
not to
answer
Don’t
Know
New car 51 0 17 30 41 65 76 88 82 100 60 33
Used car 42 0 58 56 54 33 14 13 9 0 40 67
Don’t Know 7 0 25 14 5 3 10 0 9 0 0 0
Base : Unwtd 234 0 12 43 79 40 21 8 11 7 10 3
Figure 26: B13. What type of car engine are you likely to buy?
Petrol 65 0 67 58 71 70 52 75 55 71 70 0
Electrical 9 0 0 14 11 8 5 13 0 0 0 0
Hybrid 12 0 8 7 10 8 19 13 36 29 0 67
Diesel 1 0 0 0 1 0 0 0 0 0 20 0
Other 8 0 8 12 5 13 5 0 9 0 10 33
Don’t Know 5 0 17 9 1 3 19 0 0 0 0 0
Base : Unwtd 234 0 12 43 79 40 21 8 11 7 10 3
Figure 27: B4. What brand is the car your household last purchased?
Fiat 30 0 43 35 31 26 33 13 22 8 25 45
Volkswagen 23 0 23 25 26 27 21 16 11 12 20 27
GM 20 0 20 18 24 22 21 13 19 4 14 9
Ford 15 0 13 16 15 12 11 28 14 23 15 14
Renault 4 0 0 1 2 3 6 16 8 8 5 5
Citroen 3 0 0 1 1 2 3 0 11 8 10 0
Toyota 1 0 0 1 0 1 2 3 0 4 0 0
Base : Unwtd 729 0 40 93 242 115 63 32 37 26 59 22
Figure 28: B16. How do you plan to finance the upcoming car purchase?
All Cash 16 0 17 14 15 15 14 25 27 0 20 33
Cash + Auto loan 58 0 50 58 48 55 76 75 64 86 70 67
All Auto loan 23 0 17 23 34 28 10 0 9 0 10 0
Don’t Know 3 0 17 5 3 3 0 0 0 14 0 0
Sum 100 0 100 100 100 100 100 100 100 100 100 100
Base : Unwtd 234 0 12 43 79 40 21 8 11 7 10 3
Figure 29: B17. How much do you plan to spend on the car you or your household is planning to purchase ?
Upto R$ 10000 7 0 17 12 3 8 5 0 0 14 10 33
R$ 10001 - 15000 17 0 17 37 20 13 5 0 0 0 0 0
R$ 15001 - 20000 19 0 8 16 30 15 19 0 0 0 30 0
R$ 20001 - 30000 27 0 17 19 30 38 19 38 18 14 30 33
More than R$ 30001 22 0 8 7 13 23 52 50 64 71 20 0
Base : Unwtd 234 0 12 43 79 40 21 8 11 7 10 3
24. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
Brazil: Education
Figure 77: L1. What type of education institution do/will your children attend?
% of
respondents (by
income bracket)
Total Less
than
R$ 489
R$ 490 -
1,142
R$ 1,142
- 1,630
R$ 1,631
- 3,260
R$ 3,261
- 4,890
R$ 4,891
- 6,520
R$ 6,521
- 8,150
R$ 8,151
- 11,410
More
than R
$ 11,411
Would
prefer
not to
answer
Don’t
Know
Public 68 100 81 74 74 61 56 35 14 10 46 67
Private 28 0 15 23 21 36 41 55 86 90 44 28
None of these 6 0 5 4 6 6 5 10 0 0 12 6
Base : Unwtd 714 3 113 129 242 85 39 20 14 10 41 18
Figure 78: L2. Do your children currently participate in any study or courses outside of normal school activities?
Yes 22 0 11 10 21 34 28 50 86 80 29 11
No 78 100 89 90 79 66 72 50 14 20 71 89
Base : Unwtd 714 3 113 129 242 85 39 20 14 10 41 18
Figure 79: L4. Do you yourself currently participate in any adult continuing education?
Yes 9 25 6 7 8 13 12 21 6 29 13 11
No 91 75 94 93 92 87 88 79 94 71 88 89
Base : Unwtd 1355 4 224 261 424 143 76 38 33 28 88 36
Figure 80: L6. Do you intend to spend more, or less, on education or training courses in the next 12 months?
More 20 25 18 19 17 32 20 32 27 21 20 19
About the same 64 50 64 67 67 53 68 66 64 57 55 58
Less 16 25 17 14 17 15 12 3 9 21 25 22
Base : Unwtd 1355 4 224 261 424 143 76 38 33 28 88 36
Figure 81: L6. Do you intend to spend more, or less, on education or training courses in the next 12 months?
25
18 19
17
32
20
32
27
21
17
14
17
15
12
3
9
0
10
20
30
40
Less than R$
489
R$ 490 - R$
1,141
R$ 1,142 - R$
1,630
R$ 1,631 - R$
3,260
R$ 3,261 - R$
4,890
R$ 4,891 - R$
6,520
R$ 6,521 - R$
8,150
R$ 8,151 - R$
11,410
More than R$
11,411
Income bracket
Spendingoneducation&traininginthe
next12months(%ofhouseholds)
More Less
Source: Credit Suisse emerging markets consumer survey
25. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
Brazil: Healthcare
Figure 82: M1. Does your household have access to free or partially-free healthcare from the State?
% of
respondents
(by income
bracket)
Total Less
than
R$ 489
R$ 490 -
1,142
R$ 1,142
- 1,630
R$ 1,631
- 3,260
R$ 3,261
- 4,890
R$ 4,891
- 6,520
R$ 6,521
- 8,150
R$ 8,151
- 11,410
More
than R
$ 11,411
Would
prefer
not to
answer
Don’t
Know
Yes 72 75 89 82 72 74 46 49 23 24 52 84
No 28 25 11 18 28 26 54 51 77 76 48 16
Base : Unwtd 1316 4 216 254 415 146 69 37 30 25 83 37
Figure 83: M2. What services, if any, could you get free from the state?
Hospital 96 100 94 97 97 94 94 89 100 67 98 94
Emergency Room 95 100 96 96 95 96 91 94 100 67 91 97
Prescriptions 71 100 77 74 68 70 78 72 57 50 65 61
Vaccinations 72 100 77 73 69 76 91 67 71 83 58 58
Diagnostic tests 68 67 64 70 69 74 75 61 71 33 58 58
Base : Unwtd 948 3 193 209 298 108 32 18 7 6 43 31
Figure 84: M4. How do you pay?
Insurance 60 0 59 62 58 57 56 73 57 67 66 69
Self-Pay (Cash) 19 0 25 20 16 16 10 17 36 25 17 38
Base : Unwtd 539 0 32 69 172 82 48 30 28 24 41 13
Figure 85: M5. What services do you get from your private healthcare?
Hospital 91 0 88 88 92 89 94 93 93 96 95 85
Emergency Room 94 0 100 90 92 96 92 100 100 100 95 92
Prescriptions 85 0 91 84 87 77 79 93 93 88 80 77
Vaccinations 65 0 69 72 65 63 54 53 79 71 59 54
Diagnostic tests 82 0 72 83 82 82 85 87 86 83 78 77
Base : Unwtd 539 0 32 69 172 82 48 30 28 24 41 13
Figure 86: M7. If you are planning to pay for your upcoming healthcare, what type of services are you planning to use?
Hospital 89 0 73 95 87 92 100 100 0 0 100 80
Emergency Room 87 0 100 91 84 85 83 67 0 0 86 80
Prescriptions 64 0 60 82 58 77 50 33 0 0 43 60
Vaccinations 59 0 60 73 55 85 17 33 0 0 29 60
Diagnostic tests 74 0 60 77 74 77 67 67 0 0 86 80
Base : Unwtd 102 0 15 22 31 13 6 3 0 0 7 5
Figure 87: M3/M6. Do you pay for your Healthcare? Are you planning to pay for your Healthcare in the next 12 months?
27
56
70
81
93
0
96
41
15
0
20
40
60
80
100
Less than R$
489
R$ 490 - R$
1,141
R$ 1,142 - R$
1,630
R$ 1,631 - R$
3,260
R$ 3,261 - R$
4,890
R$ 4,891 - R$
6,520
R$ 6,521 - R$
8,150
R$ 8,151 - R$
11,410
More than R$
11,411
Income bracket
%ofhouseholdscurrently
paying
0
10
20
30
40
50
60
%ofhouseholdsplanningto
pay
Already paying for private healthcare Planning to pay for healthcare over the next 12 months (RHS)
Source: Credit Suisse emerging markets consumer survey
26. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
China
A savings culture
The outlook for the Chinese consumer is robust though expectations have softened in the
last 12 months. The expectations of the rich and poor remain a marked contrast, despite
government policy initiatives aimed at addressing the imbalances. For now, the higher
income consumers look likely to remain the preserve for discretionary spending and the
acquisition of higher ticket items.
At 38%, the weighted balance of respondents expecting to see their financial positions
improve is still robust – though we would note softening somewhat from last year and
below that of Brazil and India. The step down has been pretty uniform from rich to poor. In
that respect, we would also note that nothing has changed to close the sizeable gap
between the outlook of the rich and poor.
The implied patterns of spending over the last year are of lower spending on a range of
staples such as dairy and beverages as well as more discretionary items such as fashion
apparel, cosmetics and perfumes (which incidentally has by far the lowest implied usage
than any of the other markets in the survey).
The areas of spending that have seen upward momentum are still relatively muted in their
degree though the strength of technology spending is clearly apparent. However, the two
categories that stand out are healthcare and education. Given the government
prioritisation on spending in both these areas in China, the growth in these segments looks
well supported and structural in potential.
The savings behaviour of the Chinese consumer is also a notable feature. We highlighted
last year, the high propensity to save. This remains unchanged. Any pressure on incomes
has not been offset by a reduction in savings. At nearly 30% of monthly income, it is the
highest in the survey.
Beijing ( 14% )
GDP: $166bn
Beijing ( 14% )
GDP: $166bn
Shanghai ( 14% )
GDP: $233bn
Shanghai ( 14% )
GDP: $233bn
Guangzhou ( 14% )
GDP: $143bn
Guangzhou ( 14% )
GDP: $143bn
Chengdu ( 14% )
GDP: $33bn
Chengdu ( 14% )
GDP: $33bn
Statistics
GDP (2011) $6,476.2 bn
GDP per capita (2011) $4,833
Population (2011) 1.34 bn
Geographical area 9.59 mn km2
Number of cities (in excess of 2
million people)
25
Gini coefficient (2009) 41.5
Average inflation (2011E) 5.5%
Average inflation (2012E) 3.3%
Real GDP growth (2011E) 9.5%
Real GDP growth (2012E) 9.0%
Current account % of GDP
(2011E)
5.2%
Current account % of GDP
(2012E)
5.6%
Consumption as a % of GDP
(2011)
32.2%
Statistics
GDP (2011) $6,476.2 bn
GDP per capita (2011) $4,833
Population (2011) 1.34 bn
Geographical area 9.59 mn km2
Number of cities (in excess of 2
million people)
25
Gini coefficient (2009) 41.5
Average inflation (2011E) 5.5%
Average inflation (2012E) 3.3%
Real GDP growth (2011E) 9.5%
Real GDP growth (2012E) 9.0%
Current account % of GDP
(2011E)
5.2%
Current account % of GDP
(2012E)
5.6%
Consumption as a % of GDP
(2011)
32.2%
2012 Emerging Consumer Survey
Number of respondents : 2,595
Across 10 geographic locations
71% in urban areas; 29% in rural areas
2012 Emerging Consumer Survey
Number of respondents : 2,595
Across 10 geographic locations
71% in urban areas; 29% in rural areas
Wuhan ( 14% )
GDP: $52bn
Wuhan ( 14% )
GDP: $52bn
Jinhua ( 6% )Jinhua ( 6% )
Xiangfan ( 6% )Xiangfan ( 6% )
Baoji ( 6% )Baoji ( 6% )
Handan ( 6% )Handan ( 6% )
Putian ( 6% )Putian ( 6% )
Note:
1.All city level GDP figures are 2009 est. at PPP (PWC), total GDP for the country shown in nominal US$.
2.* % of survey sampled from this area
3.Country GDP , inflation, CA , population data from IMF, Gini from UNDP, area from CIA World Factbook, city
population from CityPopulation
4.GDP per capita: World Development Indicators-World Bank, consumption as a % of GDP from UN data
27. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
China: Spending sentiment
Figure 88: Country product purchasing in 2011 vs survey average
Private healthcare
Extra education
Property
Holidays
Internet access
Smartphone
Mobile phones
Computers
PerfumeWatches
Sports shoes
Fashion apparel
Cosmetics
Dairy
Spirits
Beer
Carbonated drinks
Cars
0
10
20
30
40
50
60
70
80
90
100
0 10 20 30 40 50 60 70 80 90 100
% respondents with exposure on average across the EM Consumer Survey
%respondentsinChina,2011
Greater penetration in China
EM consumer survey
average
Source: Credit Suisse emerging markets consumer survey.
Figure 89: Country product purchasing in 2011 vs change over 2010
Private healthcare
Extra education
Property
Holidays Internet access
Smartphone
Mobile phones
Computers
Perfume
Watches
Sports shoes
Fashion apparel
Cosmetics
Dairy
Spirits
Beer
Carbonated drinks
Cars
-8
-6
-4
-2
0
2
4
6
8
10
0 10 20 30 40 50 60 70 80 90 100
2011 % respondents that own or have bought each item
Recordedspendingin2011vs2010
Source: Credit Suisse emerging markets consumer survey.
Figure 90: Momentum in country purchasing vs momentum in survey average
Cars
Carbonated drinksBeer
Spirits
Dairy
Cosmetics
Fashion apparel
Sports shoes
Watches
Perfume
Computers
Mobile phones
Smartphone
Internet access
Holidays
Property
Extra educationPrivate healthcare
-8
-4
0
4
8
12
-6 -4 -2 0 2 4 6
EM Survey -Spending momentum vs 2010 %
China-Spendingmomentumvs2010%
Greater growth in China
EM consumer survey
average
Source: Credit Suisse emerging markets consumer survey.
28. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
China: Demographics
Figure 91: A6. Could you please tell me your age? Figure 92: N2. What is your total after tax monthly
income?
27
40
20
13
0
10
20
30
40
50
18-29 30-45 46-55 56-65
%ofrespondents
5
8
10
11
14
9
8
12 12
8
0
2
4
6
8
10
12
14
16
Under
RMB
2000
RMB
2000-
2999
RMB
3000-
3999
RMB
4000-
4999
RMB
5000-
5999
RMB
6000-
6999
RMB
7000-
7999
RMB
8000-
9999
RMB
10000-
14999
Above
RMB
15000
%ofrespondents
Note: Sample size: 2585 respondents across 10 geographical regions
Figure 93: Urban / Rural split Figure 94: : Male / Female split
30
70
0
20
40
60
80
100
Rural Urban
%ofrespondents
50 50
0
10
20
30
40
50
60
Male Female
%ofrespondents
Figure 95: A9. How many people live in your household?
% of respondents
(by income
bracket)
Total Up to
RMB
2000
RMB
2000 -
3000
RMB
3000 -
4000
RMB
4000 -
5000
RMB
5000 -
6000
RMB
6000 -
7000
RMB
7000 -
8000
RMB
8000 -
10000
RMB
10000-
15000
RMB
15000 +
Would
prefer not
to answer
Don’t
Know
1 2 8 2 2 3 2 2 1 1 1 2 4 4
2 10 18 15 14 10 7 14 9 7 7 6 4 4
3 47 33 35 44 45 49 46 55 58 48 46 42 30
4 24 16 28 21 27 23 23 24 22 23 25 33 22
5 or more 18 25 20 18 15 20 14 10 13 21 22 17 41
Median 3.45 3.31 3.5 3.39 3.41 3.52 3.32 3.33 3.39 3.56 3.58 3.54 3.93
Figure 96: A12. How many children does your household have?
1 83 76 61 78 81 84 82 95 92 88 87 100 81
2 15 21 37 20 16 16 15 5 8 9 10 0 13
3 2 3 3 2 3 1 2 0 0 3 1 0 6
4 0 0 0 0 0 0 0 0 0 0 1 0 0
5 or more 0 0 0 0 0 0 0 0 0 0 0 0 0
Median 1.19 1.26 1.42 1.24 1.22 1.17 1.2 1.05 1.08 1.14 1.16 1 1.25
29. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
Figure 97: A15. In your opinion is now a good time to make a major purchase?
12 10 9 13 13 11 10 14 12 11
36 49 53 48 51 54 50 49 58 51
40
37 32 34 31 30 35 30 23 31
12
0%
20%
40%
60%
80%
100%
Under RMB
2000
RMB 2000-
2999
RMB 3000-
3999
RMB 4000-
4999
RMB 5000-
5999
RMB 6000-
6999
RMB 7000-
7999
RMB 8000-
9999
RMB 10000-
14999
Above RMB
15000
%ofrespondents
Excellent time Good time Not such a good time A bad time
Figure 98: A15 (b) – In your opinion is now a good time to make a major purchase? Percentage of respondents who are
positive minus percentage who are negative
-4
18
23 21
28
31
20
27
40
23
-10
0
10
20
30
40
Under RMB
2000
RMB 2000-
2999
RMB 3000-
3999
RMB 4000-
4999
RMB 5000-
5999
RMB 6000-
6999
RMB 7000-
7999
RMB 8000-
9999
RMB 10000-
14999
Above RMB
15000
%ofrespondents
Figure 99: A16. Do you think the state of your own finances over the next 6 months will be better, worse or about the
same?
22 32 33 36 41 40 47 45 46 51
53 53 54 54 54 47 52 47 45
22 16 14 10 5
56
0%
20%
40%
60%
80%
100%
Under RMB
2000
RMB 2000-
2999
RMB 3000-
3999
RMB 4000-
4999
RMB 5000-
5999
RMB 6000-
6999
RMB 7000-
7999
RMB 8000-
9999
RMB 10000-
14999
Above RMB
15000
%ofrespondents
Better About the same Worse
Source: Credit Suisse survey. NB: Income brackets based on average monthly household income.
Figure 100: A16 (b) – Do you think the state of your own finances over the next 6 months will be better, worse or about
the same? Percentage of respondents who are positive minus percentage who are negative
0
16
19
26
36 34
41 42
39
47
0
10
20
30
40
50
Under RMB
2000
RMB 2000-2999 RMB 3000-3999 RMB 4000-4999 RMB 5000-5999 RMB 6000-6999 RMB 7000-7999 RMB 8000-9999 RMB 10000-
14999
Above RMB
15000
%ofrespondents
Source: Credit Suisse emerging markets consumer survey.
NB: Income brackets based on average monthly household income.
30. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
China: Income and Other
Figure 11101: N1. What savings or investment channels, if any, does your household use to save money?
% of
respondents
(by income
bracket)
Total Up to
RMB
2000
RMB
2000 -
3000
RMB
3000 -
4000
RMB
4000 -
5000
RMB
5000 -
6000
RMB
6000 -
7000
RMB
7000 -
8000
RMB
8000 -
10000
RMB
10000-
15000
RMB
15000 +
Would
prefer
not to
answer
Don’t
Know
Bank account 88 53 75 85 89 90 96 96 94 93 88 75 91
Life insurance 13 4 6 12 10 12 8 14 13 20 25 4 11
Stock market 13 3 3 8 8 10 8 15 21 20 35 17 6
Cash 26 14 15 23 23 32 27 25 27 33 28 13 17
Mutual Fund 11 4 1 5 7 9 13 14 12 18 24 8 2
Treasury bond 4 1 1 2 2 2 6 4 5 7 8 4 0
Property 5 2 1 4 6 4 2 4 5 9 14 0 6
No extra saving 6 33 18 8 3 3 2 1 1 2 2 29 6
Collectables 2 0 0 0 1 1 1 2 2 2 6 4 2
Gold / Jewellery 4 0 1 3 3 3 1 3 5 9 13 0 2
Base : Unwtd 2595 126 206 261 292 356 224 213 305 321 213 24 54
Figure 102: N3. To what extent has your household income changed in the last 12 months?
Declined > 20% 1 6 0 2 1 1 1 1 1 1 2 4 4
-10% to -20% 2 6 3 1 4 2 2 1 2 2 2 4 2
-10% to flat 4 3 3 6 5 5 4 3 3 2 3 17 2
Unchanged 66 77 77 70 67 67 65 69 69 60 52 50 67
Flat to +10% 14 6 12 11 13 16 16 15 14 16 17 13 13
+10 to +20% 8 1 3 7 8 6 9 9 8 14 12 8 9
+20 to +30% 2 1 0 3 1 2 1 2 2 4 5 4 4
30%+ 1 0 1 2 0 1 1 0 1 1 7 0 0
Base : Unwtd 2595 126 206 261 292 356 224 213 305 321 213 24 54
Figure 103: N4. In what way do you expect your household income to change in the next 12 months?
Declined > 20% 1 2 0 0 1 0 1 0 1 0 1 0 0
-10% to -20% 1 2 1 1 1 1 0 0 1 0 1 8 2
-10% to flat 3 1 7 3 2 4 3 2 1 4 1 8 0
Unchanged 56 78 67 61 59 55 50 56 53 49 43 46 65
Flat to +10% 20 6 14 17 22 21 25 24 27 20 16 13 15
+10 to +20% 13 8 8 12 10 12 14 14 12 17 20 13 13
+20 to +30% 4 2 0 3 4 5 6 2 4 6 7 4 4
30%+ 3 1 2 3 1 3 1 1 2 3 10 8 2
Base : Unwtd 2595 126 206 261 292 356 224 213 305 321 213 24 54
Figure 104: N5. What proportion of your spending is done via credit cards?
0-5% 13 12 17 14 11 15 17 12 11 10 10 29 11
6-10% 7 2 3 5 4 6 9 12 12 10 10 0 0
11-15% 3 1 0 2 2 4 4 3 6 5 5 0 0
16-20% 2 0 0 2 2 2 2 3 2 5 5 0 2
21-25% 4 0 2 2 4 5 3 1 6 6 4 8 0
More than 25% 10 2 5 4 10 7 8 12 11 16 27 13 7
No credit card 56 76 71 65 63 56 53 54 51 47 36 38 57
Mean % exp 14 7 10 10 15 12 12 14 14 17 19 13 14
Base : Unwtd 2595 126 206 261 292 356 224 213 305 321 213 24 54
Figure 105: N6. How do you think your purchases on credit card are likely to change in the next 12 months?
Rising 29 16 27 23 24 30 31 35 30 34 32 20 22
Staying the same 64 70 62 69 71 64 63 62 66 60 60 67 70
Decreasing 6 14 11 7 5 7 6 3 5 6 9 13 9
Base : Unwtd 1141 30 60 91 108 155 106 98 148 170 137 15 23
31. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
China: Automobiles
Figure 106: B1. Does your household currently own a car that is driven for personal use?
% of
respondents
(by income
bracket)
Total Up to
RMB
2000
RMB
2000 -
3000
RMB
3000 -
4000
RMB
4000 -
5000
RMB
5000 -
6000
RMB
6000 -
7000
RMB
7000 -
8000
RMB
8000 -
10000
RMB
10000-
15000
RMB
15000 +
Would
prefer
not to
answer
Don’t
Know
Yes 20 7 7 9 15 17 17 22 16 35 51 41 27
No 80 93 93 91 85 83 83 78 84 65 49 59 73
Figure 107: B2. Does your household own a motorcycle / 2-wheeler for personal use?
Yes 29 31 39 32 35 29 22 28 28 26 24 14 33
No 71 69 61 68 65 71 78 72 72 74 76 86 67
Figure 108: B3. How many cars do you own in your household?
1 87 88 92 95 95 98 94 93 84 87 69 100 79
2 12 13 0 5 5 2 6 8 16 12 25 0 14
3 or more 2 0 8 0 0 0 0 0 0 1 5 0 7
Figure 109: B5. How long ago did you purchase this car?
1 year or less 31 0 38 20 26 34 32 35 18 34 35 33 36
2 to 4 years 55 88 38 80 58 49 55 48 80 51 52 56 36
5 to 7 years 10 0 23 0 8 15 10 10 2 11 9 0 29
8 to 10 years 3 13 0 0 5 2 3 3 0 4 4 11 0
More than 10
years ago
1 0 0 0 3 0 0 5 0 0 0 0 0
Base : Unwtd 467 8 13 20 38 53 31 40 44 102 95 9 14
Figure 110: B7. How did you finance it?
All Cash 75 75 54 80 68 74 81 78 80 77 73 89 50
All Credit 18 0 15 20 24 19 16 15 20 21 19 11 0
Part
Exchange
1 0 8 0 0 2 0 0 0 0 2 0 0
Don’t Know 1 0 8 0 0 0 0 3 0 0 1 0 0
Base : Unwtd 6 25 15 0 8 6 3 5 0 2 5 0 50
Figure 111: B10. Will you or your family purchase or replace a passenger car in the next 12 months?
0 2 0 1 2 4 2 3 5 44 5 6 7 9 8 9 11
15
21
12 13 15
19 16 16
22 20
16
11
7
20 22 23 20
30
24 23 23 22
77
61
48 51
42 43 43 41 41
54
0
20
40
60
80
Under RMB
2000
RMB 2000-
2999
RMB 3000-
3999
RMB 4000-
4999
RMB 5000-
5999
RMB 6000-
6999
RMB 7000-
7999
RMB 8000-
9999
RMB 10000-
14999
Above RMB
15000
Income Bracket
%ofrespondents
Definitely will Probably will Not sure Probably won’t Definitely won’t
Source: Credit Suisse emerging markets consumer survey
32. January 2012
Credit Suisse Emerging Consumer Survey Databook 2012 Source: Credit Suisse Emerging Consumer Survey 2012
Figure 112: B11. Thinking about the car you will purchase, will it be a new or used car?
% of
respondents
(by income
bracket)
Total Up to
RMB
2000
RMB
2000 -
3000
RMB
3000 -
4000
RMB
4000 -
5000
RMB
5000 -
6000
RMB
6000 -
7000
RMB
7000 -
8000
RMB
8000 -
10000
RMB
10000-
15000
RMB
15000 +
Would
prefer
not to
answer
Don’t
Know
New car 91 100 77 93 95 91 90 100 92 88 94 60 80
Used car 6 0 15 7 0 6 5 0 5 9 4 20 0
Don’t Know 4 0 8 0 5 3 5 0 3 3 2 20 20
Base : Unwtd 277 4 13 14 19 33 21 20 38 58 47 5 5
Figure 113: B13. What type of car engine are you likely to buy?
Petrol 73 50 77 79 53 73 76 70 71 81 74 40 60
Electrical 6 0 0 7 16 3 5 5 13 3 4 20 0
Hybrid 14 50 23 14 21 9 14 15 13 9 17 20 20
Diesel 3 0 0 0 5 3 5 0 0 5 2 0 0
Other 0 0 0 0 0 0 0 0 0 0 0 0 0
Don’t Know 4 0 0 0 5 12 0 10 3 2 2 20 20
Base : Unwtd 277 4 13 14 19 33 21 20 38 58 47 5 5
Figure 114: B4. What brand is the car your household last purchased?
Foreign Cars 72 65 70 45 85 65 57 62 77 77 85 88 56
Volkswagen 18 13 31 30 29 13 26 13 23 18 11 44 7
Honda 10 0 8 5 11 9 13 10 11 6 15 0 21
GM 10 0 0 0 8 15 3 5 7 15 12 0 14
Local Cars 21 25 16 45 9 36 30 37 16 23 11 11 14
Chery 3 0 0 5 0 9 0 3 2 1 4 0 7
Changansuzuki 3 0 0 0 0 9 6 3 2 4 1 0 0
Base : Unwtd 467 8 13 20 38 53 31 40 44 102 95 9 14
Figure 115: B16. How do you plan to finance the upcoming car purchase?
All Cash 58 75 46 64 47 61 57 60 45 59 64 60 100
Cash + Credit 38 25 38 36 53 30 38 40 47 38 32 40 0
All Credit 3 0 8 0 0 9 0 0 5 0 2 0 0
Part Exchange 1 0 0 0 0 0 0 0 0 2 2 0 0
Don’t Know 1 0 8 0 0 0 5 0 3 2 0 0 0
Base : Unwtd 277 4 13 14 19 33 21 20 38 58 47 5 5
Figure 116: B17. How much do you plan to spend on the car you or your household is planning to purchase ?
Upto RMB 100000 26 50 69 43 32 42 19 25 24 17 13 0 20
RMB 100’000 -
400’000
64 25 31 43 68 42 67 70 66 78 68 100 80
RMB 400’00 –
700’000
5 0 0 7 0 12 0 0 11 3 9 0 0
RMB 700’000 –
1’000’000
2 25 0 0 0 0 10 5 0 0 2 0 0
More than RMB
1’000’000
1 0 0 0 0 0 0 0 0 2 4 0 0
Base : Unwtd 277 4 13 14 19 33 21 20 38 58 47 5 5