Vietnamese consumers are the most economical in the world


The latest report published by Nielsen showed that the confidence index of Vietnamese consumers improved in the fourth quarter of 2015 with 108 points, up by 3 points from the third quarter. Vietnam ranks 6th worldwide for the consumer’s optimism, behind a number of countries in the region such as the Philippines, Indonesia, and Thailand.
According to Ryan Vaughan, CEO of Nielsen Vietnam, the index of consumer confidence in the fourth quarter of Vietnam continues to be improved thanks to the willingness of spending. The confidence of retailers was also improved clearly during the Lunar New Year (Tet holidays) – the busy shopping period of the year.
Vietnam still maintains its position as the most economical country in the world, with 79% of the interviewed consumers saying that they would spend money economically, followed by Indonesia (75%), the Philippines ( 65%), Singapore (64%), Malaysia (63%) and Thailand (60%).
However, Vietnamese consumers also said that, after paying the necessary expenses in life, they were also willing to spend money for other expenses such as vacation/travel (44%, +2 points), buying new clothes (44%, +5 points), house decoration/repair (40%, -1 point), new technology products (38%, +2 points) as well as recreational activities outside (37%, +3 points).
The worry of recession made five out of 10 Vietnamese (52%) believe that the national economy has not recovered yet. More than one-third of the people interviewed said they did not see signs of improvement in their job, even somewhat more negative (37%).
Therefore, economic downturn and stable jobs are still two big concerns of Vietnamese consumers with one fourth of the consumers worried about the national economy (24%) and their job (25%).
The report also showed that nearly one third of the consumers (34%) said health was their main concern in the next six months. The other concerns of consumers in the top 10 are balancing life and work, the increase in the cost of essential goods and food (18%), crime (9%), education for children and the increase of oil prices (8%) as well as debt issues (7%).
Source: Vietnamnet