Overcoming job stability, Health has become the number 1 concern of Vietnamese consumers. Vietnamese consumers spend on premium health insurance packages at the highest rate globally.

Ho Chi Minh, October 9, 2019 – Vietnamese consumer confidence remained stable in the second quarter of 2019 with an index of 123 percentage points – despite a decrease of 6 points compared to the previous quarter.

However, Vietnam continues to be among the most optimistic countries globally and ranks 4th in the world for having the most positive consumer index, followed by India, the Philippines and Indonesia, respectively with the most positive consumer index. points 138, 130 and 126; according to the latest statistics conducted by The Conference Board®Global Consumer Confidence™ in cooperation with Nielsen, a global business performance measurement company.

This quarter, Vietnam's Consumer Confidence Index decreased from 129 points to 123 points compared to the previous quarter, citing the downward trend of key factors including: Optimism about job opportunities , Security of personal financial situation and Shopping spending intention. Globally and regionally, many countries are also experiencing a similar trend of decreasing CCI due to rising costs and political issues.

Compared to the same quarter of 2018, Vietnam's CCI score increased by 3 points (from 120 points to 123 points) with the growth of 2 out of 3 main drivers: Optimism about job opportunities and Purchase spending intention. shopping (+ 5 points and + 4 points respectively). The Peace of Mind factor regarding personal financial situation remains stable compared to the second quarter of last year (-1 point).

Overcoming job stability, health has become the top concern of Vietnamese consumers

In the second quarter of 2019, Vietnamese consumers continued to rank Health (44%, equivalent to Q1 2019) and Job Stability (42%, -4% compared to Q1 2019) as two important concerns. their top priority while 22% of respondents indicated that Life Balance (22%, -2% compared to Q1 2019) was the third most important factor.

Notably, Health has surpassed Job Stability to become the top concern of Vietnamese consumers, which was largely predictable, according to Ms. Louise Hawley, CEO Executive, Nielsen Vietnam.“Vietnamese consumers are more concerned about their health than ever. Air pollution and the environment are hot topics that are increasingly becoming people's top concerns. With the current alarming environmental situation and increased consumer awareness, health is expected to continue to be the top concern of Vietnamese consumers in the third quarter of 2019.

During this quarter, concerns about increasing utility bills among Vietnamese people increased sharply from 6% to 13%.“At the end of the first quarter of 2019, electricity prices in Vietnam increased by more than 8%, leading to strong interest and attracting more attention to utility bill costs,” shared Ms. Louise Hawley.

In the second quarter of 2019, Life balance moved up one place on the list of key concerns with 21% of respondents saying it was a concern (compared to 24% of respondents). asked in Q1 2019). In addition, other important areas of concern for Vietnamese consumers are Economic Situation (21%, -6% compared to Q1 2019) and Children's Education & Welfare (9%, +2 % compared to Q1 2019).

Vietnamese consumers lead the world in spending on high-end health insurance packages

Globally, Southeast Asian consumers still lead the way when it comes to saving. In the second quarter, despite a slight decrease (75% to 69%), Vietnam continued to be in the top 2 countries with the highest saving tendency, only behind Hong Kong (70%).

Following the trend from the previous quarter, Vietnamese consumers continue to spend a portion of their spending on high-end health insurance packages (38%, -2% compared to Q1 2019). This quarter, Vietnam became the country with the highest rate globally of spending on premium health insurance packages, followed by Switzerland (35%), Indonesia (35%) and China. National (33%).“With the current environmental pollution situation, Vietnamese consumers are not only worried about their health but are also starting to take action to protect it. This is the reason why Vietnam ended this quarter with the highest spending trend on health care insurance packages (38%)", Ms. Louise Hawley explained.

In addition, Vietnamese people also indicated that they spent less on new clothes (-9%), outside entertainment (-6%), new technology products (-8%) and upgrades/ home decoration (-8%) compared to the previous quarter.

* Source: Nielsen