Confidence among Filipino consumers continue to be the highest in Southeast Asia and second in the world, edging up two points to a score of 119 in the first quarter of 2016, according to the latest Nielsen Global Survey of Consumer Confidence and Spending Intentions.
The Nielsen consumer confidence index measures perceptions of local job prospects, personal finances and immediate spending intentions, among more than 30,000 respondents with Internet access in 63 countries. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism.
Under three-quarters (72%) of Filipino respondents say local job prospects are good/excellent in the next 12 months, compared to the global average of 48%. Further, eight in 10 of Filipino respondents (81%) perceive their personal finances to be in good/excellent state over the next 12 months compared to 56% global average. More than half of Filipino respondents (52%) also believe that it’s a good time to buy.
While consumers in the Philippines continue to give financial security top priority by channeling spare cash to savings (69%, +4 from Q4 2015) they have also indicated willingness to spend.
Discretionary purchase intentions high on the priority list of consumers in the Philippines include spending on new clothes (32%, +2) holidays/vacations (32%,+5), home improvements (29%,+6), and technology products (26%, +1).
For more detail and insight, download Nielsen’s Q1 2016 Global Consumer Confidence Report. If you would like more detailed country-level data from this survey, it is available for sale in in the Nielsen Store.
The Nielsen Global Survey of Consumer Confidence and Spending Intentions was conducted March 1-23, 2016, and polled more than 30,000 online consumers in 63 countries throughout Asia-Pacific, Europe, Latin America, the Middle East/Africa and North America. The sample includes Internet users who agreed to participate in this survey and has quotas based on age and sex for each country. It is weighted to be representative of Internet consumers by country. Because the sample is based on those who agreed to participate, no estimates of theoretical sampling error can be calculated. However, a probability sample of equivalent size would have a margin of error of ±0.6% at the global level. This Nielsen survey is based only on the behavior of respondents with online access. Internet penetration rates vary by country. Nielsen uses a minimum reporting standard of 60% Internet penetration or an online population of 10 million for survey inclusion. The China Consumer Confidence Index is compiled from a separate mixed methodology survey among 3,500 respondents in China. The sub-Saharan African countries in this study are compiled from a separate mobile methodology survey among 1,600 respondents in Ghana, Kenya and Nigeria. The Nielsen Global Survey, which includes the Global Consumer Confidence Index, was established in 2005.