Vietnamese consumers in the top 7 most optimistic countries globally

Vietnamese consumers are particularly interested in what is happening in the market, are easily influenced and react quickly.

Global measurement and information company - Nielsen has just released a report on the consumer confidence index (CI) in the second quarter of 2016, showing that Vietnamese consumer confidence remains high, placing Vietnam in 7th place among the countries with the highest level of optimism globally, after the Philippines, India, Indonesia, Thailand, Malaysia and Singapore.

Word of mouth always shapes Vietnamese consumers' consumption decisions. (Illustration: KT)

Ms. Nguyen Huong Quynh, General Director of Nielsen Vietnam, assessed that Vietnamese consumers still maintain optimism about the national economy compared to other countries. This belief is built on the basis of the development of the middle class and the sustainable economic prospects of the State.

“Vietnamese consumers pay close attention to what is happening in the market and are easily influenced by word of mouth from people around them, information on social networks… and they will quickly react. This requires manufacturers and retailers to act faster, anticipate trends and address and respond to concerns before those influences shape Vietnamese consumers’ consumption decisions,” said Ms. Quynh.

Nielsen’s report also shows that, along with the saving trend, Vietnamese consumers are also very willing to pay for large items. After covering essential living expenses, about 3/5 of Vietnamese people will use their spare money to travel, vacation, buy new clothes and use outside entertainment services.

In addition, health remains an important concern for Vietnamese consumers this quarter, with one-third of Vietnamese (32%) indicating that health is one of their two biggest concerns over the next six months. Job security and economic stability continue to be the second and third biggest concerns for consumers (29% and 26%, respectively).

Political stability and crime issues emerged as some of the notable concerns of consumers in the second quarter of 2016. Other concerns included work-life balance, rising costs of living, rising food prices and welfare policies, parental pensions and happiness.

“In the current context, consumers are looking for ways to live a healthier and more wholesome life. Therefore, it is not surprising that health continues to be the biggest concern of the majority of consumers. In the optimism about the future, financial security remains one of the top priorities of consumers. Job security as well as economic prospects have a direct impact on the level of financial security of consumers. Therefore, these are still two major concerns of consumers,” Ms. Quynh emphasized./.

According to VOV