Vietnamese consumers among world’s most positive

Vietnamese consumer confidence index achieved its highest score in the last decade, placing it as the fourth most optimistic country in the world, according to market research firm Nielsen.

The index reached 124 points in the first quarter of 2018, up 9 points over the same period last year.

“The great economic growth across industries, combined with strong foreign investment flows, increasing household incomes and proper government policies have resulted in optimism among consumers,” said Nguyen Huong Quynh, Managing Director of Nielsen Vietnam.

“However, positive sentiments did not lead to strong fast moving consumer goods (FMCG) sales in Vietnam, with the market up just 1.8 percent in Q1. The growth was slower than expected and reflected the characteristic of FMCG industry in Vietnam, possibly due to changing consumer behaviors,” Quynh added.

Having a stable job and good health remains key concerns of Vietnamese consumers. In this quarter, the top five concerns of Vietnamese consumers remained the same as last year. Job security topped the list with 43 percent, followed by health and wellness (41 percent). Other concerns included work-life balance and economic status with both at 23 percent.

The Nielsen report said Southeast Asia and North America showed the highest level of consumer confidence. The confidence score of consumers in Southeast Asia increased 2 points from 119 in fourth quarter of 2017 to 121 in first quarter of this year.