China'S Consumer Confidence Is Higher Than The Global Average.

The latest consumer confidence index survey released by Nelson today shows that consumers in developing countries and regions are optimistic about the economic outlook in the face of global economic slowdown.

Among them, India has the highest number of respondents who hold this view, reaching 51%, followed by Vietnam (45%).

In China and Russia, 1/3 of respondents said the global economy will be warmer in a year.

The Nielsen global consumer confidence index survey was launched in early October this year, which continued to cause global concern, covering 52 countries and regions in the world, and over 26 thousand consumers took part in the current survey.

Stable growth will help restore confidence in the market. According to Nielsen's consumer confidence index, China's consumer confidence level has been stable since the second half of 2006.

According to the current survey, China's consumer confidence has risen slightly in the first half of the year, with an index reaching 96, exceeding the global average of 12 points.

Chris Morley, chairman of Nielsen Co China, commented: "consumers in many countries have been affected by the slowdown in the world economy.

China is one of the fastest growing countries in the world.

In the past ten years, the steady growth of China's economy has made consumers more confident of further development.

72% of Chinese consumers believe that China is not in recession at the moment, and consumers who view this view are almost two times the global average (37%- only 37% of the world's consumers do not think their country has entered the recession).

Keruisi further commented that the stable development of Chinese enterprises and consumers will help restore market confidence at a time of setbacks in the global economy.

In the medium and long term development, China's economic growth is still strong. "

Nelson consumer confidence index shows that in the face of the global economic slowdown, consumers in developing countries show a more optimistic attitude than consumers in developed countries.

India, Brazil, Russia and China are among the ten most optimistic countries and regions in the world.

Among them, India's consumer confidence index ranks first in the world, Russia ranked fifth, and Brazil and China's consumer confidence increased relative to the previous round of surveys.

Keruisi said: "50% India consumers firmly believe that the local economy will continue to maintain a positive development momentum.

India's domestic market is huge and adequate domestic demand will continue to drive faster economic growth.

Therefore, in view of the rising market, the impact of the global economic slowdown is limited.

43 of the 52 countries and regions covered by the Nelson consumer confidence index survey showed a decline in consumer confidence index in the countries and regions surveyed.

Global consumer confidence has dropped to a record low since the index was established in 2005.

In particular, the US consumer confidence index also fell to the lowest level in the United States, which was affected by the financial crisis.

In the European market, consumer confidence experienced a year-on-year decline, with an average of 77.

The lowest consumer confidence index in the world is South Korea (36) and Japan (44).

China's market challenges and opportunities coexist. Saving is the traditional way for Chinese consumers to deal with idle money. According to Nelson's survey, 57% of Chinese consumers will choose to deposit their spare money in the bank if the economic outlook is uncertain.

In parallel, the increase in savings did not affect Chinese consumers' willingness to invest. 42% of respondents said they would invest their savings in stocks, bonds and fund markets.

This proportion is third in the world, second only to Hongkong and India.

Compared with the first half of 2008, Chinese consumers' spending intention increased by two percentage points.

More than 1/3 of Chinese consumers say that the next year will be the time to spend.

Among them, holiday tourism is most favored by Chinese consumers.

More than half of the respondents (53%) expressed willingness to spend money on holiday travel when they had spare cash.

This proportion is the highest in the world, rising by an average of nearly twenty percentage points.

Nelson, chairman of China's regional board of directors Keruisi, said: "we found from Nelson's data that the consumption intention of Chinese tourists has not declined.

China's outbound tourism market has great potential.

If market participants can grasp the mentality of consumers and offer cost-effective tourism projects, Chinese consumers will never give up the opportunity to go abroad and look at the world.

China's outbound tourists' strong spending power in luxury goods is also a business opportunity for global luxury brands to take into account their market strategy. "

When some of the world's consumers are spending time in order to cope with the challenges of economic slowdown, Chinese consumers' mentality and behavior do not seem to have changed much. Fifty-one percent of the respondents said that they would spend more money on new clothes when they had spare money, which only ranked second in Russia.

When consumers in other countries reduce their dining out and slow down their pursuit of new and high technology, more than 40% (41%) of Chinese consumers say they will spend money on entertainment when they have spare cash.

Keruisi made the following explanation for these phenomena: "in the environment of global slowdown in consumption, the Chinese market still has great potential.

However, the competition in this market will no doubt become increasingly fierce, and consumers will have a deeper understanding of the market.

To understand consumer demand and seize market opportunities is the way to win in China.

Compared with consumers in other countries, the Chinese have the characteristics of high price sensitivity and responsive to promotional activities. These insights are very important for businessmen to turn challenges into business opportunities.