29 July 2011
Taiwan Consumer Confidence slightly declined, dropping two points to 89, according to second quarter 2011 findings of Nielsen’s Online Consumer Confidence Survey. Compared to the first quarter of this year, Taiwanese respondents who believe the state of their personal finances over the next twelve months will be “good” dropped three percentage points to 38%.
Global online consumer confidence declined three points in the second quarter of this year to an index of 89. The Nielsen Global Online Consumer Confidence Survey tracks consumer confidence, major concerns and spending intentions among more than 31,000 Internet consumers in 56 countries.
Though Taiwan Consumer Confidence dropped slightly, 46 percent of Taiwanese respondents believe Taiwan is in an economic recession, four percent less than the first quarter of this year. Among Taiwanese respondents, 48% indicated they did not believe Taiwan would be out of recession in the next 12 months and 43% said they didn’t know.
Putting money into savings (59%) is still the first choice for spare cash in Taiwan, once essential living expenses are covered. Out of home entertainment (37%) became the second priority, while investing in shares of stock/mutual funds (37%) became the third choice. Holidays (30%) ranked 4th. The percent responding they “have no spare cash” reached 14 percent, the highest since 2005, when the survey began.
The economy (35%) remains the top concern among Taiwanese online consumers, and rising food prices (27%) is still the second highest area of concern, increasing three percentage points from the first quarter of this year. Compared to the same time last year, 65 percent of Taiwanese internet respondents have changed their spending habits in order to save on household expenses. Cutting down out-of-home entertainment (53%), spending less on new clothes (50%), and switching to cheaper grocery brands (46%) were the top three actions. When compared to results from the first quarter of 2011, spending less on new clothes, switching to cheaper groceries, and saving gas and electricity were up four to six percent. Three in ten said they try to save gas & electricity and one-fourth of online respondents indicated they would continue to save energy and switch to cheaper grocery brands even when economic conditions improve.
“While the economy recovers, Taiwanese consumers still lack a sense of security. The percentage of salary increases hasn’t satisfied consumers’ expectations while the consumer price index continues to increase. As a result, consumers are still conservative toward their financial status and spending. Consumers indicated only spending the money when it's really worth it,” said Angela Wang, Executive Director, Consumer Research, Nielsen Taiwan.
Global online consumer confidence declined to its lowest level in six quarters as economic recovery hit a stumbling block and recessionary jitters again reverberated around the world, according to second quarter findings of Nielsen’s Global Online Consumer Confidence Survey.
About the Nielsen Global Online Survey
The Nielsen Global Online Survey was conducted between May 20 and June 7, 2011 and polled more than 31,000 consumers in 56 countries throughout Asia Pacific, Europe, Latin America, the Middle East, Africa and North America. The sample has quotas based on age and sex for each country based on their Internet users, and is weighted to be representative of Internet consumers and has a maximum margin of error of ±0.6%. This Nielsen survey is based on the behavior of respondents with online access only. Internet penetration rates vary by country. Nielsen uses a minimum reporting standard of 60 percent Internet penetration or 10M online population for survey inclusion. The Nielsen Global Online Survey, which includes the Global Online Consumer Confidence Survey, was established in 2005.
Nielsen Holdings N.V. (NYSE: NLSN) is a global information and measurement company with leading market positions in marketing and consumer information, television and other media measurement, online intelligence, mobile measurement, trade shows and related properties. Nielsen has a presence in approximately 100 countries, with headquarters in New York, USA and Diemen, the Netherlands. For more information, visit www.nielsen.com.
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