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Consumer confidence rises VNTimes


Vietnam's consumer confidence index jumped to 96 in the first quarter, marking the highest index point over the past year.

The index for the first quarter was eight points higher than the previous quarter and two points higher than a year ago.

These information were disclosed by the latest Consumer ConfidenceIndex report from Nielsen, a leading global provider of information andinsight into what consumers watch and buy.

Meanwhile, consumers in the Asia-Pacific region continue to display high levels of optimism, the report said.

Across 14 Asia-Pacific countries, seven countries saw increases inconsumer confidence compared to the previous quarter. Three remainedstatic, while confidence fell marginally in the remaining four markets.

At least 33 percent of online Vietnamese respondents said that the next 12-month period would be a good time to buy items.

This figure was 4 percent higher than the fourth quarter of last year and 7 percent higher than a year ago.

When it comes to how consumers use discretionary income, the dominant option in Vietnam is "putting it into savings."

Seventy-one percent said they chose to save spare cash, an increase of 60 percent over the fourth quarter of last year.

The options have increased slightly, such as spending on homedecorating (33 percent), technology products (31 percent) and newclothes (30 percent).

Saving money is the highestpriority for Asia-Pacific consumers, with 62 percent of respondents saidthey put away spare cash after covering essential purposes.-VNA

Therese Glennon, Nielsen's APMEA Regional Consumer Insights Leader,said that "Asia-Pacific consumers continue to gain optimism, yet remainquite discerning and frugal, and will continue to prioritise saving andinvestment."

The survey revealed that more Vietnamese people were optimistic about the job market in the first quarter.

The number of people who said they felt "good or excellent" abouttheir job prospects rose from 34 percent in the fourth quarter of 2012to 39 percent in the first quarter of 2013.

However, this was lower than a year ago (50 percent), and was less optimistic than the regional average (61 percent).

Asia-Pacific optimism for jobs remains high, as most countriesexperienced increases from the previous quarter, including Thailand(72 percent), Malaysia (67 percent) and Singapore (50 percent).

Vietnamese optimism about personal finances increasedby 9 points to 50 percent when compared to the previous quarter. Butthis figure was still lower than the regional average of 62 percent.

The biggest concern for Asia-Pacific consumers is the economy, with 16 percent stating this was their largest worry.

"Work-life balance" came in second at 14 percent and job security was a close third at 13 percent.

The Nielsen Global Survey of Consumer Confidence and SpendingIntentions, established in 2005, measures consumer confidence, majorconcerns, and spending intentions among more than 29,000 respondentswith internet access in 58 countries.

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