2 May 2012
Global consumer confidence increased five index points to 94 in the first quarter of 2012 and Taiwan enjoys the biggest rebound in 56 measured markets from 71 in 2011 last quarter to 84 in first quarter of 2012, a global provider of information and insights into what consumers watch and buy.
The Nielsen Global Survey of Consumer Confidence and Spending Intentions, established in 2005, tracks consumer confidence, major concerns and spending intentions among more than 28,000 Internet consumers in 56 countries. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism.
Taiwan consumer confidence index jumped thirty points from 71 with increases in three key indicators—personal finance, times to buy needed items, and especially job prospects. Three in ten, with seventy percentage points increase from last quarter, Taiwanese online respondents think the job market is “excellent” or “good”.
Thirty-seven percent think their personal finance is excellent/good and twenty-seven percent think it’s excellent/good timing to buy items they want and need, both increasing six percentage points compared to the last quarter of 2011
Sixty percent of Taiwanese online consumers think Taiwan is in an economic recession, though with 18 percent declines, among them, thirty-eight percent still believe Taiwan won’t be out of an economic recession in the next 12 months.
“The latest results of Nielsen’s Consumer Confidence survey in Taiwan show a rapid rebound after a strong decline in Q4 last year,” said Emilie Darolles, managing director, Nielsen Taiwan. “Results of the presidential elections as well as a better economic outlook for the region are boosting the level of confidence of Taiwanese consumers. This trend is particularly driven by a stronger outlook for job prospects as well as an improved state of personal finances. However, consumers’ conservative attitudes still prevail as two-thirds of the population prefer to put their spare cash into savings as increased concerns toward inflation, including utility bills and fuel prices, are rising.”
Because of worries towards inflation, still over three in five Taiwanese online respondents report they have changed their spending habits to save on household expenses, including cutting down on out of home entertainment (52%), cutting down on holidays/short breaks (43%), and spending less on new clothes (41%). However, less consumers would switched to less expensive cheaper grocery brands (from 43% in 4Q2011 down to 36% in 1Q2012), indicating Taiwanese would like to keep the basic quarly of the nessasity when confidence returns to normal.
About the Nielsen Global Survey
The Nielsen Global Survey of Consumer Confidence and Spending Intentions was conducted between February 10 and February 27, 2012 and polled more than 28,000 online 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 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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