HANOI, July 2 (Xinhua) — Vietnam consumer confidence index of the first quarter of 2018 reached a new all-time high of 124 points, according to the latest Global Consumer Confidence survey released by global information and measurement firm Nielsen.
In the first quarter of this year, consumers in Southeast Asia remained optimistic, with confidence increasing by 2 points from 119 in the fourth quarter of last year to 121; and reaching an all-time high of 124 points, Vietnam became the fourth most optimistic country globally, Nielsen Vietnam announced on Monday.
The level of consumer confidence in Vietnam was reported to increase 9 points on the back of increased positivity about local job prospects and the state of personal finances, said Nguyen Huong Quynh, managing director of Nielsen Vietnam.
Vietnamese consumers also felt that it was a good time to spend, especially on “big ticket” items such as travel and appliances, she added.
However, positive sentiment did not lead to strong fast-moving consumer goods (FMCG) sales, with the market up just 1.8 percent in the first quarter of this year.
Food, beverage and cigarette categories continued to drive FMCG sales growth. On the back of rapid store expansion, the modern trade channel grew 10.7 percent, easily outperforming traditional trade, which was up 2.4 percent.
Vietnam’s total goods retail sales and consumer service revenues in the first half of this year climbed up 10.7 percent year-on-year to nearly 2,121 trillion Vietnamese dong (93.4 billion U.S. dollars), according to its General Statistics Office on Monday.
Specifically, the country’s goods retail sales rose 11.3 percent to over 1,597 trillion Vietnamese dong (nearly 70.4 billion U.S. dollars).