Americans Planning to Take Y2k Precautions
For the nation's grocers, gasoline retailers and banks, business could be heavy for the next few weeks as a growing number of Americans begin taking precautions against possible Y2K problems, according to a nationwide survey by Decision Analyst, Inc., a leading international marketing research and marketing consulting firm.
Based on its recent survey of 500 U.S. adults, Decision Analyst determined that over 80% of the adult population are planning to take one or more actions to protect themselves from possible computer problems on January 1, 2000, as shown in the graph below. These results are based on 500 nationally representative telephone interviews conducted in late October and early November.
73.2% ~ Likely to keep detailed records of transactions, accounts, debts, payments, etc.
61.8% ~ Likely to fill car up with gasoline
47.4% ~ Likely to store extra water
44.0% ~ Likely to take some money out of the bank
42.8% ~ Likely to store extra food
14.4% ~ Likely to stock up on firewood
13.4% ~ Likely to buy/use an electric generator
"Clearly, the level of consumer concern is significant, as evidenced by these planned precautions," said Jerry W. Thomas, President of Decision Analyst, Inc. "The greatest risk would appear to be a potential shortage of cash in the banking system as consumers get ready for January 1. Supermarkets might find many of their shelves empty as consumers stock up on food in the days just before New Year's Day, and many service stations could run low on gasoline stocks. These 'hoarding' tendencies on the part of consumers, if reinforced by a media firestorm near the end of the year, could result in widespread shortages."
Decision Analyst, Inc. provides marketing research and marketing consulting services to corporations and organizations around the world. Based in the Dallas-Fort Worth area, the company specializes in new product development, strategic analyses, advertising testing, and econometrics research. In addition, the company operates one of the largest online consumer opinion panels in the world. This national telephone survey regarding Y2K issues is accurate to within plus or minus four percentage points.
Media Note: Further information may be obtained by contacting Jerry W. Thomas at Decision Analyst Inc. in Arlington, Texas, 1-817-640-6166 or [email protected]. The company's web site is located at www.decisionanalyst.com.
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