Nielsen Survey: Vietnam Second Most Optimistic Consumer Market

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Jul. 29 – Vietnam was ranked as the second most optimistic country in the world according to a global consumer confidence index conducted by Nielsen.

India was the most optimistic followed by Indonesia and Vietnam in a tie for second place. The Global Consumer Confidence Index measures consumer confidence, concerns and spending intentions of 27,000 internet users in 48 countries.

“The enormous rise in optimism seen in the latest survey has taken ‘cautious’ out of Vietnam’s previous footing of ‘cautious optimism,’ ” Darin Williams, managing director at Nielsen Vietnam said in a statement. “Vietnamese consumers are ready to spend, with new technology being the focus for many after they have paid for essential living expenses.”

The country’s confidence index increased to 119 index points, the  highest index recorded for Vietnam. The survey showed that 47 percent of respondents in Vietnam said they would spend extra cash to buy new technology, the highest percentage of respondents in the region, while 39 percent said they would spend it on new clothes.

“While the global economy is in better shape than it was nine months ago, the ongoing European debt crisis is a major setback to the global economic recovery anticipated this year,” said Venkatesh Bala, chief economist at The Cambridge Group, a subsidiary of Nielsen.