Vietnam’s consumer confidence index increases in 2010

Leading market information company TNS announced consumer confidence index of Vietnam in 2010 is 78, whereas it was 64 in 2009.

Vietnam consumers are more optimistic about economic growth and new jobs than other emerging and fast growing economies in Asia, according to results of the survey conducted by TNS Vietnam.

TNS AP Temperature check 2010 shows that 48 percent of 500 respondents saying the economic and employment situation of Vietnam is positive; this proportion is higher than in China, India, and Indonesia.

Regarding Vietnam’s prospects in 2011, 68 percent of those respondents believed that the economic situation would be better and 69 percent said new jobs would be created next year. This rate is also higher than the three above countries.

Ralf Matthaes, Managing director of TNS Vietnam said the results indicate that Vietnamese consumer confidence in economic growth is increasing, although there are still concerns about the price fluctuations could make consumers to spend more.

According to Matthaes, the striving of Hochiminh city to reach 12 percent economic growth in 2011 is a good sign for consumer confidence in the growth prospects of Vietnam, because this city is considered a leading economic part of the economy.
From the results of the survey and market research, TNS Vietnam launched the index of consumer confidence in Vietnam in 2010 is 78, higher than that of 2009 (64) but still lower than that of 2008 (89).

In the last two years, Vietnamese consumers have been more cautious with spending plans, they tended to purchase quality items at reasonable prices rather than buying expensive products. According to TNS Vietnam, Vietnamese consumers would spend more in 2011, especially for expensive products, but still be careful when making purchasing decisions. – TBKTSG

Tags: Vietnam consumer confidence index