Vietnam consumer confidence index again hits record high
Friday, June 28,2019AsemconnectVietnam - With a jump to 129 percentage points in Consumer Confidence Index, Vietnam once again hit the record high and surpassed Indonesia to rank 3rd in the world for having the most positive consumers during the first quarter of 2019, just after the Philippines and India.
In this quarter, global and region experienced a stable CCI trend (-1 pp and +1 pp vs Quarter 4 2018 respectively). Meanwhile, Vietnam’s overall confidence level was high above the regional average (more than 12 pp compared with regional level). Within the Southeast Asian region, the Philippines overcame India to achieve the highest CCI, with 133 points while Singapore was the country with the biggest CCI score lost in the first quarter of 2019 (-4 pp vs Quarter 4 2018) and finished the year with 92 points.
“The significant increase of consumer confidence indicates that local consumers continue the positive changing for themselves and their families. Manufacturers and retailers need to capture the latest trends in the consumer market and need to act faster to respond to the evolving needs of consumers”, said Nguyen Huong Quynh, Managing Director of Nielsen Vietnam.
During the first quarter of 2019, all key drivers of Vietnam Consumer Confidence Index, including job prospects, financial security and spending ready, significantly increased. Around three-quarters of the people surveyed believed they would have good or excellent job prospects (80 per cent, +5 per cent vs Q4 2018) or would be in good or excellent financial states in the next 12 months (82 per cent, +6 per cent vs Q4 2018).
Despite a slight fall, Vietnam still continued to place first in Asia Pacific in Q1 2019 for having the region’s most avid savers (75 per cent, -3 per cent vs Q4 2018), followed by Hong Kong (China) with 68 per cent, the Philippines (68 per cent), and China (67 per cent).
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