Up to 78% of Vietnamese consumers will use their idle money to save.

This information has just been released by Nielsen in its report on the Consumer Confidence Index. Accordingly, consumers in the Southeast Asian region have the highest saving tendency in the world and Vietnam is leading.

Illustration photo. Source: Internet

Specifically, up to 78% of Vietnamese consumers said they would use their spare money to save, a figure much higher than the regional average of 72%. Following behind is Indonesia with 75%, the Philippines 69%, Singapore 67%, Malaysia 67% and Thailand 66%.

Also according to Nielsen, in the past 12 months, 8 out of 10 Vietnamese people have adjusted their habits to save money. Of these, 61% have reduced spending on new clothes, 58% have cut down on outside entertainment costs, nearly half of Vietnamese consumers have cut down on gas and electricity costs and 44% have limited phone costs.

However, after covering all essential living expenses, Vietnamese people are still ready for other large expenses. At that time, spare money will be used for purposes such as: Traveling 38%, entertainment 34%, buying new technology products 32% and decorating the house 31%.

Assessing this trend, Nielsen's representative said that the above indicators show that Vietnamese consumers no longer simply want "enough to eat and wear". Instead, most consumers today desire an increasingly better life, which has brought about different expectations as well as different priorities.

Many people want to own their own home or use their free time to travel longer, so they need to increase their savings. Although the market has not really shown positive signs yet, these desires among consumers will increase, this representative predicted.

In addition, Nielsen's report also assessed that Vietnamese consumers are ranked 5th globally in terms of optimism. Currently, Vietnam's optimism index is 109 points. In Southeast Asia, the Philippines and Indonesia are the two most optimistic countries with indexes reaching 119 points and 117 points, respectively.
As a country with a young population with 57% of the population under 35 years old, the high confidence index shows that Vietnamese people still have good expectations for the economy, Nielsen concluded.

According to Economics & Urban