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December 2006
Global
Along with an improving consumer confidence comes a more positive disposition among consumers to spend. According to ACNielsen, the world’s leading market research and Information Company, globally, 43 percent of the world’s Internet consumers think now is a good/excellent time to buy the things they want and need in the next 12 months.
Across all regions, nearly half of North Americans are all set to embark on a shopping spree, followed by 44 percent of Latinos, 41 percent of consumers in Asia Pacific and 39 percent of consumers in EEMEA (Eastern Europe, Middle East and Africa).
The ACNielsen Online Consumer Confidence and Opinion Survey is the largest half-yearly survey of its kind aimed at gauging current confidence levels, spending habits/intentions and current major concerns of consumers across the globe. The ACNielsen Consumer Confidence Index is developed based on consumers’ confidence in the job market, status of their personal finance and their readiness to spend. The latest survey, conducted in late October/early November, polled about 25,408 internet users in 46 markets from Europe, Asia Pacific, North America, the Baltics and the Middle East.
Spending sentiment in the next 12 months
“Consumers in general are more upbeat about the state of their personal finances and less concerned about the economy and job market. As we head into the Christmas trading period, this has effectively ‘switched on’ their spend button,” said Mr. Lennart Bengtsson, President, ACNielsen EEMEA. “
By markets, consumers most likely to go on a spending spree in the next 12 months continue to hail from the world’s most optimistic countries of Denmark (71%), India (68%) and Norway (66%). It’s worth mentioning that none of the EEMEA countries is on the list of top ten optimistic countries, however, Turkey and Greece are on the list of ten top pessimistic countries regarding the perception of good or bad time to buy things.
Globally 58 percent of world consumers are optimistic about the state of their personal finance in the next 12 months led by India (87%). The UAE are on the top ten list rating 82%, Russia follows with 71% and South Africa with 69%. At the bottom of the list is Turkey with 46 percent.
Retailers in the EEMEA Region should be all set to maximize sales opportunities this Christmas, as consumers prepare to spend in the next 12 months, and as the crucial holiday selling period begins! Among the various spending options, New Clothes (41%) overtook Holidays/Vacation to become consumers’ top choice for disposing of their spare cash, followed by 39 percent for Out of Home Entertainment and 35 percent Holidays/Vacations respectively. Thirty-One (31) percent also choose to buy New Technology gimmicks, home improvement/decorating and put into savings with their spare cash.
Russians are the big spenders worldwide in clothing
“The composition of the top 10 countries globally most likely to opt for New Clothes is a strong reflection of the aspirations of consumers from developing countries such as Russia (74%), Latvia (50%) and Greece (47%) to catch up with fashion trends, alongside countries with long-established fashion empires like Italy (45%) and France (44%),” Mr. Bengtsson observed.
As consumers become more willing to loosen their purse strings they also show greater desire for Out of Home Entertainment and Holidays/Vacations. Vietnam (56%) tops the world with most people choosing to use their spare cash on out of home entertainment, followed by 54 percent of Russians and 48 percent of Spanish. Greece is the other EEMEA country that is included in the list of top 10 most ready to spend on out of home entertainment.
In terms of Holidays/Vacations, Thailand, renowned for its hospitality and tourism, has most people claiming they would spend on holidays/vacation if they have spare cash. Together with Singapore (52%) and China (48%) the trio comprises the world’s top three countries most likely to take holidays/vacations. Russia (45%) and Greece (43%) follow on the top list.
Meanwhile, led by the Vietnamese (60%), Thais (58%) and Russians (55%), 29 percent of world consumers and 31 percent in EEMEA are considering spending their cash on new technology gadgets.
“It’s worth-mentioning that in Russia we have seen a continued increase in the ownership of new technology products by Russian consumers who are at the same time spending more on pampering themselves as the country becomes more affluent,” observed Mr. Bengtsson. “Retailers and service providers are sure to capitalize on this new consumer spending sentiment and find ways to sustain the spending desire going forward.”
The UAE are amongst the most savers in the world
The UAE are the only non Asian market that ranked among the top ten, with 53 percent opting to save. Thailand again led the “Top Ten Global Savers” list, with 71 percent claiming to save their spare cash after covering essential living expenses, followed by people in Singapore and Taiwan (60%).
About ACNielsen
ACNielsen, a VNU business, is the world's leading marketing information provider. Offering services in more than 100 countries, the unit provides measurement and analysis of marketplace dynamics and consumer attitudes and behavior. Clients rely on ACNielsen's market research, proprietary products, analytical tools and professional service to understand competitive performance, to uncover new opportunities and to raise the profitability of their marketing and sales campaigns. To learn more, visit www.acnielsen.com.
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