Vietnamese consumer confidence among top 10 optimistic countries

Thursday, Aug 04, 2016 14:35

HA NOI (Biz Hub) — Vietnamese consumer confidence continues staying high, despite a slight drop in Q2 this year, with an index score of 107, two point lower than the previous quarter.

According to the latest Consumer Confidence Index released recently by Nielsen, a global information and measurement company that makes Viet Nam the seventh most optimistic country globally.

The report also reveals that consumers in Southeast Asia are still among the most confident across the globe.

Philippines posted a score of 132 to become the most optimistic country globally. Indonesia remains the third most confident country on consumer confidence globally, with 119 points. The consumer confidence level of Thailand posted 101 points, followed by Singapore and Malaysia.

"Vietnamese consumers pay close attention to what is happening. They are easily influenced by word of mouth and social media and react quickly. This requires even faster action from manufacturers and retailers to address the concerns, before the Vietnamese consumers allow these concerns to determine their decisions," Nguyen Huong Quynh, managing director of Nielsen Viet Nam, said.

"However, it is a fact that the Vietnamese continue to be optimistic about the local economy in comparison to other nations reflects rising affluence in our country, the continued growth of middle class populations and a stable government's economic outlook," she added.

In addition, Southeast Asian consumers continues to be among the world's most avid savers, with more than two in three putting their spare cash into savings.

When coming to savings, Vietnamese consumers are the highest globally (76 per cent), followed by Indonesia (70 per cent), Philippines (65 per cent), and Malaysia & Singapore (63 per cent), in addition to Thailand (62 per cent).

The Nielsen Global Survey of Consumer Confidence and Spending Intentions was conducted from May 9 to May 27 this year and polled more than 30,000 online consumers in 60 countries throughout Asia-Pacific, Europe, Latin America, the Middle East, Africa and North America. — VNS

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