India tops consumer index again

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• India continues to be on top of the global consumer confidence index but, given the slowdown in discretionary spends, it has dipped by two points in the third quarter (Q3) of 2014, according to a Nielsen survey released on Wednesday. According to the survey, India scored an index of 126 in Q3, followed closely by Indonesia (index of 125) in the second position and Philippines (115) in the third. In the online survey, which was conducted between August 13 and September 5, this year, over four in five (82%) urban Indian respondents indicated the highest levels of optimism globally on job prospects in the next 12 months, followed by Indonesia (80%) and China (74%).

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• “In India, overall, the confidence index continues to hold near its previous levels with the euphoria around the recently elected government settling down,“ said Piyush Mathur, president, Nielsen India Region. “The consumer in India is in the middle of a festival season, and so spending will likely be higher than previous quarters due to gifting and entertaining. Besides traditional offline retailers, ecommerce is gaining traction for the urban affluent shoppers in India and online retailers have been spurring the market with discounts to fuel this movement. The actual impact of this on consumer spending might be more evident towards the end of the year,” said Mathur.

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• Among the world’s biggest economies, consumer confidence increased four points in the US (108), one point in Germany (97), three points in the UK (93) and four points in Japan (77), from the second quarter. Meanwhile, consumer confidence in China held steady at 111 for the fourth consecutive quarter.

• The latest results reflect an outlook of cautious optimism, as every region’s consumer confidence score improved compared to the previous quarter.

• Specifically on discretionary spending and savings in India in Q3 of 2014, the survey stated that nearly three in five (59%) online respondents polled believe this to be a good time to buy things they want and need, which is a drop of 1% from last quarter (60%).

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India tops consumer index again

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