Vietnamese prefer savings to spending

In Vietnam, 46% of Vietnamese respondents say their job prospects over the next 12 months are good/excellent, decreasing seven percentage points from the previous quarter and 11 percentage points versus a year ago.

One in two Vietnamese respondents (51%) reported their state of personal finance good or excellent over the next 12 months, slightly increasing from 49% in Q1 2012 but still lower than a year ago (56%).

Nielsen’s survey revealed that up to 86% of Vietnamese respondents have adjusted spending to save on household expenses compared to last year, mostly in gas and electricity (70%), out of home entertainment (63%), new clothes (63%), upgrading technology (53%) and telephone expenses (51%).

Top five concerns of Vietnamese consumers include the economy (19%), job security (18%), increasing utility bills (12%), increasing food prices (7%) and health (8%).

Nielsen’s Q2 2012 Consumer Confidence Index recorded a score of 100 for Asia, down three points from Q1 2012.

 Confidence levels declined in many markets across Asia, with just five markets (Indonesia, Malaysia, Hong Kong, Vietnam and the Republic of Korea) recording an increase in confidence levels for the quarter./.

By Kim Loan