Vietnam consumer confidence index rises to record high
Vietnam surpassed Indonesia to rank third in consumer confidence in the first quarter behind only the Philippines and India, according to the latest Conference Board Global Consumer Confidence Survey conducted in collaboration with global measurement company Nielsen.
Consumer confidence index in the Asia Pacific in the first quarter of this year. (Source: Nielsen Vietnam)
Hanoi (VNS/VNA) - Vietnam surpassedIndonesia to rank third in consumer confidence in the first quarter behind onlythe Philippines and India, according to the latest Conference Board GlobalConsumer Confidence Survey conducted in collaboration with global measurementcompany Nielsen.
With aseven point increase from the fourth quarter last year, Vietnam hit a record129 points in the Consumer Confidence Index (CCI). Vietnam’s was the biggestgain in the Asia Pacific.
Globallyand in the region the CCI was steady, respectively edging down by one point andrising by one point from Q4 last year.
Vietnam’soverall confidence level was high above the regional average (more than 12points above).
ThePhilippines (133 points) and India (132) topped the highest CCI. Singapore sawthe biggest decline of four points and finished the quarter with 92.
Vietnam’sstrong rise was due to the confidence in job prospects and personal finances,and the level of willingness to spend by the population.
“Thissignificant increase in consumer confidence indicates that consumers continueto see positive changes for themselves and their families,” Nguyen Huong Quynh,managing director of Nielsen Vietnam, said.
“Manufacturersand retailers need to capture the latest trends in the consumer market and needto act faster to respond to the evolving needs of consumers,” she said.
Duringthe first quarter, all key drivers of Vietnam’s CCI, including job prospects,financial security and willingness to spending, increased significantly.
Approximatelythree-quarters of the people surveyed believed they have good or excellent jobprospects.
Eightytwo percent of respondents said they would be in good or excellent financialstate in the next 12 months.
Sixtyseven percent said they were ready to spend, an increase of 4 percentagepoints.
Vietnameseconsumers continued to rank job security and health as two factors they carethe most about, followed by economic growth and work-life balance.-VNS/VNA
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Consumer confidence index in the Asia Pacific in the first quarter of this year. (Source: Nielsen Vietnam)
