Global consumer confidence increased one index point to 97 in the second quarter of 2014, the highest score since Q1 2007, according to consumer confidence findings from Nielsen. This follows a two-point increase at the start of the year that marked the global index’s first return to pre-recession levels. Additionally, half of global respondents believed the job market would be good or excellent in the upcoming year, a 1-percentage-point increase from the first quarter and a level not reached since 2007. Taiwan consumer confidence dropped one index point to 75 from the previous quarter, driven by decreased positive sentiments around job prospects and spending intentions.
More than four in five Taiwan respondents thought Taiwan was in an economic recession in Q2 and among them, more half said Taiwan will not be out of the economic recession in the next 12 months. As a result, the economy (42%) is still Taiwan consumers’ biggest concern with a one percentage point increase over Q1 2014, followed by work/life balance (22%) and increasing food prices (21%). Saving for a rainy day is the major way of “spending” their spare cash – two-thirds (66%) of Taiwan online respondents said they will put their spare cash into savings (one percentage point increase from previous quarter). The percentage of spending on out-of-home entertainment (25%) and new technology products (11%) decreased from the previous quarter for two percentage point and six percentage point respectively. Fifteen percent of respondents claimed they had no spare cash, the highest percentage since 2007.
“CPI continues to grow year on year together with food prices, according to the Directorate General of Budget, Accounting and Statistics, but salaries have remained at the same level for 15 years. It makes sense that Taiwan consumers would be more conservative on spending,” said Seren Su, senior director, Consumer Insight, Nielsen Taiwan.
In conjunction with the second-quarter index release, Nielsen is unveiling a new interactive data visualization tool based on nine years of historical global consumer confidence data, which spans 60 countries and represents a global online population of some 2 billion consumers. The Nielsen Global Consumer Confidence Trend Tracker allows users to select a variety of different data points related to consumer economic sentiment to create dynamic visualizations by region, country, issue, and time period. Nielsen Taiwan also releases key market information figures to provide a bigger picture.
About the Nielsen Global Survey
The Nielsen Global Survey of Consumer Confidence and Spending Intentions was conducted May 12-30, 2014, and polled more than 30,000 online consumers in 60 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 its Internet users, 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 China Consumer Confidence Index is compiled from a separate mixed methodology survey among 3,500 respondents in China. The Nielsen Global Survey, which includes the Global Consumer Confidence Index, was established in 2005.
Nielsen (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 and mobile measurement. 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.