The country's consumer confidence index dipped to 101 points in the first quarter, a drop of eight points, according to the latest edition of the Nielsen Global Consumer Confidence Index.
Consumer confidence experienced a slight adjustment after taking a steep 24-point fall in the second half of 2009.
The drop made Vietnam the 11th most confident country, down from the fourth most confident country at the end of 2009, according to the latest edition of Nielsen Global Consumer Confidence Survey conducted by Niesel Co. between March 8 and March 26.
It polled more than 27,000 internet consumers in 55 countries throughout the Asia-Pacific region, Europe, Latin America, the Middle East and North America .
"We view this as a slight change rather than a significant decline in Vietnam confidence from the second half of 2009 results," the report said.
Despite the slight change, Vietnam consumers are still relatively optimistic, with only 56 percent of those surveyed believing Vietnam was still in a recession, down from 69 percent in the second half of 2009.
Forty-three percent of Vietnamese believe they would be out of the recession in the next 12 months, while a notable 34 percent disagreed and another 23 percent said "don't know."
The Vietnamese continue to be "cautiously optimistic" as 55 percent of Vietnamese believe job prospects are good to excellent over the coming 12 months.
Despite a relatively positive outlook on jobs and finances, 54 percent of Vietnamese consumers said that this would not be the best time to buy the things they wanted or needed.
After paying for essential living expenses, 49 percent said they would put their money into savings, followed by spending on holidays/vacations (39 percent), new technology products (30 percent), home entertainment (29 percent) and home improvement (29 percent).
"Consumers in Vietnam are still hesitant to go out and spend money, yet the results indicate that there is a willingness to spend on new products. Companies that focus on value and quality and targeted promotions will be the ones to drive consumption throughout Vietnam ," said Williams.
Almost identical to their Asian neighbours, Vietnamese consumers' top four concerns are job security (19 percent), the economy (18 percent), work/life balance (14 percent) and health (11 percent)./.
Consumer confidence experienced a slight adjustment after taking a steep 24-point fall in the second half of 2009.
The drop made Vietnam the 11th most confident country, down from the fourth most confident country at the end of 2009, according to the latest edition of Nielsen Global Consumer Confidence Survey conducted by Niesel Co. between March 8 and March 26.
It polled more than 27,000 internet consumers in 55 countries throughout the Asia-Pacific region, Europe, Latin America, the Middle East and North America .
"We view this as a slight change rather than a significant decline in Vietnam confidence from the second half of 2009 results," the report said.
Despite the slight change, Vietnam consumers are still relatively optimistic, with only 56 percent of those surveyed believing Vietnam was still in a recession, down from 69 percent in the second half of 2009.
Forty-three percent of Vietnamese believe they would be out of the recession in the next 12 months, while a notable 34 percent disagreed and another 23 percent said "don't know."
The Vietnamese continue to be "cautiously optimistic" as 55 percent of Vietnamese believe job prospects are good to excellent over the coming 12 months.
Despite a relatively positive outlook on jobs and finances, 54 percent of Vietnamese consumers said that this would not be the best time to buy the things they wanted or needed.
After paying for essential living expenses, 49 percent said they would put their money into savings, followed by spending on holidays/vacations (39 percent), new technology products (30 percent), home entertainment (29 percent) and home improvement (29 percent).
"Consumers in Vietnam are still hesitant to go out and spend money, yet the results indicate that there is a willingness to spend on new products. Companies that focus on value and quality and targeted promotions will be the ones to drive consumption throughout Vietnam ," said Williams.
Almost identical to their Asian neighbours, Vietnamese consumers' top four concerns are job security (19 percent), the economy (18 percent), work/life balance (14 percent) and health (11 percent)./.
