PH consumers among world’s most optimistic, says Nielsen survey

FILIPINO consumers remain among the most optimistic buyers in the world, tying with Indonesia for the number two spot behind global leader India, according to the latest Nielsen consumer confidence survey.

In a statement, the market research firm said that consumers from the Philippines exhibited a five-point increase in the confidence index during the fourth quarter of 2014, leveling with Indonesian consumers’ 120-point score.

This optimism was shared across the Southeast Asian region with five of six Asean markets showing similar levels of optimism.

With its index score, the Philippines reaped one of the biggest quarterly increases globally, with a five-point jump from the previous quarter, Nielsen said in a statement.

India held on to number one with 129 (+3 points)—the highest index across the 60 countries measured.

Thailand came in fifth with an index score of 111 (down 2 points from the previous quarter). Consumer confidence levels in Vietnam (106, up 4 points) and Singapore (100, down 3 points) also remained relatively strong.

In contrast, consumer confidence in Malaysia stood at 89 points, which was down 10 percentage points compared to the third quarter of 2014, representing the biggest quarter-on-quarter decline globally and seven points below the global average of 96 points.
According to the poll, 79 percent of Filipino respondents felt bullish about their personal finances over the next 12 months, while 50 percent believed it was a good time for people to buy the things that they wanted and needed.

Despite this, Filipino consumers—along with consumers from across Southeast Asia —continued to be among the world’s most avid savers.

Sixty-three percent of Filipino respondents said they prioritized saving their spare cash, compared to 69 percent of consumers in the region and 43 globally.