Customers at Saigon Co.op supermarket. (Photo: VNA) HCM City (VNA) - Vietnam ranks the fifth most optimisticcountry globally with an index score of 117 in the latest Consumer ConfidenceIndex released by Nielsen, its highest score in the past five years and up fivepoints from the last quarter of 2016.
The report also finds that consumers in Southeast Asia continue to be among theworld’s most confident.
Despite decreasing by two points, the Philippines with 130 points has surpassedIndia with 121 points to become the most confident country in the world.
Indonesia ranks fourth with a score of 122 while Thailand drops to 10thwith 107.
Confidence levels bounced back in Malaysia and Singapore, which score 94 and89.
Unlike last year, consumers in Vietnam are no longer the most avid saversglobally.
The study shows that 63 percent of Vietnamese put their spare cash into savings(compared to 76 percent in the previous quarter), following Thailand (69 percent),Singapore and Indonesia (66 percent).
Consumers in Vietnam continue to spend more on big-ticket items.
After covering essential living expenses, around one in three Vietnameseconsumers are willing to spend on things like holidays (38 percent), newclothes (36 percent), new technology products (31 percent), home improvement(30 percent), and out of home entertainment (29 percent).
Twenty three percent have medical insurance.
Nguyen Huong Quynh, managing director of Nielsen Vietnam, said: “In contrast tothe volatility of the fast moving consumer goods market in the first half ofthe year, Vietnamese consumer sentiment is getting better. This upsurge is dueto consumers’ optimistic perception of personal finances and immediate spendingintentions.
“Vietnamese consumers pay closer attention to what is happening, easily beinginfluenced by word of mouth and social media, and quickly react, which makesthem continuously evolving consumers.
“Therefore, manufacturers and retailers need to have ‘real time’ understandingof the emerging consumer trends and take faster actions to meet their demands.”
The top five concerns of Vietnamese consumers remain the same as in the lastquarter of 2016.
Job security continues to top the list at 48 percent, followed by health (38percent), work/life balance (25 percent), the economy (20 percent), andparents’ welfare and happiness (17 percent).
“While consumers continue to be upbeat about their future, financial securityremains one of their top priorities,” Quynh said.
“Both job security and economic outlook have a direct impact on consumers’degree of financial security, and hence remain key concerns.
“It is not a surprise that in the current context, consumers are looking forhealthier lives or even total wellness. Thus, this trend offers bothmanufactures and retailers the opportunity to innovate and develop the nextgeneration of offerings.”-VNA
Twenty three percent have medical insurance.
Nguyen Huong Quynh, managing director of Nielsen Vietnam, said: “In contrast tothe volatility of the fast moving consumer goods market in the first half ofthe year, Vietnamese consumer sentiment is getting better. This upsurge is dueto consumers’ optimistic perception of personal finances and immediate spendingintentions.
“Vietnamese consumers pay closer attention to what is happening, easily beinginfluenced by word of mouth and social media, and quickly react, which makesthem continuously evolving consumers.
“Therefore, manufacturers and retailers need to have ‘real time’ understandingof the emerging consumer trends and take faster actions to meet their demands.”
The top five concerns of Vietnamese consumers remain the same as in the lastquarter of 2016.
Job security continues to top the list at 48 percent, followed by health (38percent), work/life balance (25 percent), the economy (20 percent), andparents’ welfare and happiness (17 percent).
“While consumers continue to be upbeat about their future, financial securityremains one of their top priorities,” Quynh said.
“Both job security and economic outlook have a direct impact on consumers’degree of financial security, and hence remain key concerns.
“It is not a surprise that in the current context, consumers are looking forhealthier lives or even total wellness. Thus, this trend offers bothmanufactures and retailers the opportunity to innovate and develop the nextgeneration of offerings.”-VNA
VNA
