5:28:13 PM | 4/11/2008
Consumer confidence is still high among Vietnamese consumers despite their concerns over economic problems, according to the latest consumer confidence survey by market research firm ACNielsen.
Vietnamese consumers are ranked the ninth most optimistic in the world, down from seventh in the first half of 2008, according to ACNielsen’s global consumer confidence rankings for the second half of 2008.
Vietnam was above the global average for consumer confidence, hitting 97.1 compared to the average index of 84.2.
While the consumer confidence remained high in the country, it has been steadily dropping since the first half of last year. Since the first half of this year, consumer confidence has fallen 8 per cent.
Up to 49 per cent of the Vietnamese consumers surveyed said they preferred to put their idle cash to savings, which is higher than the average level in Asia-Pacific region.
Vietnamese consumers also love to update themselves with new technology, with 42 per cent of them saying they chose to spend money on high-tech products. Vietnam led all other Asia-Pacific countries including China and ranked third in the world in this category.
According to the survey, the biggest concern for Vietnamese over the next six months is the economy with 23 per cent, fuel prices 22 per cent, work/life balance 20 per cent and job security 20 per cent.
However, 45 per cent of those surveyed said they believed the country will not incur recession in the next 12 months.
Taylor Nielsen Sofres (TNS) Vietnam, in its recent market research, also said that more than 60 per cent of Vietnamese consumers believed that their living standard will be much better in the next 12 months. (Thanh Nien News, Capital’s Security)
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