|
August 19 2009
Hong Kong
People in Hong Kong continue to be cautious about spending amidst the uncertain economic outlook, yet parents are not holding back when it comes to spending on their children.
According to the latest survey by The Nielsen Company, besides school related fees, seven in 10 parents said they also spend on additional learning tools and tutorial classes for their children, over 80 percent spend on toys and entertainment for their children and over half spend on extra-curriculum activities such as sports and musical instruments learning etc.
In money terms, a family spends an average of HK$3,000 on each child per month to cover their school related expenses, additional learning tools, extra-curriculum activities, toys and entertainments etc. Among all expense items, school related fees account for the biggest share (40%), followed by additional learning tools and tutorials (19%) and toys & entertainment (15%).
“Most children in Hong Kong are regarded as the “king” of the family with local birth rates remaining low; parents would rather cut back on their own needs than compromise on what they give their children for their well-being,” said Mr Umang Pabaru, Managing Director, Consumer Research, The Nielsen Company, Greater China. “Children will remain the driving force for parents to open their purse strings in good and bad times, and this is especially true for families who have only one child.”
Parents’ spending on children does not just stop at routine activities. 59 percent of parents surveyed said they spend an average of $340 a month on new clothes for their children and they give them pocket money of about $240 per month.
Despite a sticky economic environment, two thirds of the parents think their current spending on their children is just right and 83 percent do not have plans to cut back – it’s music to the ears for children-oriented businesses.
Amidst the prevailing human swine flu, parents are not driven away from signing up their children for summer classes! Instead the overall sentiment is more positive than expected. 14 percent of the parents claimed to spend more on their children’s summer activities compared to last year, while 61 percent would keep it at last year’s level.
As much as parents are willing to spend on their children for their ‘well-being’, the use of public facilities and participation in social activities do not seem to be on parents’ radar screens much. According to the Nielsen survey, 95 percent of parents said they never or rarely participate in any volunteer or charitable activities with their children, over nine in 10 never or seldom take their children to the museums, 45 percent never or rarely bring their children to the libraries, and a third said they never or seldom take their children to the park or rural areas.
The most common activities for families with children are dining and shopping, with 60 percent of parents saying they will dine out with their children once a week or more and 39 percent go shopping with their children at least once a week.
“As consumers become more budget-conscious and spending on children’s routine activities are already considerable, it is not a bad idea for parents to better utilize the public facilities and activities offered by the government and social organizations which are equally useful to keep their children inspired and amused,” commented Mr Pabaru.
The Nielsen survey interviewed 302 parents with one or more children aged 16 or below in Hong Kong. The survey was conducted through its Telebus telephone survey from June 12 to 21, 2009.
About The Nielsen Company
The Nielsen Company is a global information and media company with leading market positions in marketing information, media information, online intelligence, mobile measurement, trade shows and business publications (Billboard, The Hollywood Reporter, Adweek). The privately held company is active in more than 100 countries, with headquarters in New York, USA. For more information, please visit, www.nielsen.com
Back to Top
|
