Consumers at the Co.opXtra Van Hanh supermarket in Ho Chi Minh City (Photo: VNA)Hanoi (VNA) – Up to 70 percent of Vietnamese consumers put their sparecash into savings, ranking second globally, according to the Global ConsumerConfidence Survey recently issued by Nielsen and The Conference Board.
The survey for the second quarter of 2018 saidSoutheast Asian consumers are leading the way when it comes to their savingintentions.
Filipinos are the world’s most avid savers (71percent) while Singaporeans (69 percent) and Indonesians (66 percent) rankthird and fourth. The global average in this regard is 53 percent, up 1 percentfrom Q1.
However, after covering essential livingexpenses, Vietnamese consumers were eager to spend on big-ticket items as theywish to lead a better life, the report said, noting nearly half of consumerswere willing to spend on holidays (49 percent).
Additionally, 46 percent of Vietnamese consumerswould like to spend their spare cash on new clothes and new technologyproducts, 43 percent wanted to divert any spare cash towards out-of-homeentertainment activities and 38 percent wanted to spend on home improvements.
Spending on medical insurance premiums keepsincreasing with this intention gaining 3 points from the previous quarter toreach 41 percent.
The survey also indicated that Vietnameseconsumer confidence remained stable in Q2, with an index score of 120percentage points, compared to the global index of 104 percentage points. Itdropped a spot to the fifth most confident country in the world.
Vietnamese continued to rank job security andhealth as their top two key concerns. Other key areas of concern wereincreasing utility bills, parents’ welfare and happiness and children’seducation and/or welfare.
They also continued to feel upbeat on theirpersonal state of finance with 76 percent perceiving their state of personalfinances would be either good or excellent in the next 12 months. However,nearly half of respondents stated it is not a good time to buy.–VNA
VNA
