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Others India among top 5 nations whose consumers are ready to spend: ACNielsen Survey

India among top 5 nations whose consumers are ready to spend: ACNielsen Survey

Author | exchange4media Mumbai Bureau | Wednesday, Feb 22,2006 8:40 AM

India among top 5 nations whose consumers are ready to spend: ACNielsen Survey

The ACNielsen Online Consumer Confidence and Opinion Survey is aimed at gauging current confidence levels, spending habits/intentions and current major concerns of consumers across the globe. The survey is polled over 23,500 respondents in 42 markets from Europe, Asia Pacific, North America, Latin America and Emerging Markets.

According to the latest global online consumer confidence survey conducted by ACNielsen, majority of Indians are willing to purchase what they desire and invest in mutual funds and shares way ahead of their Asian counterparts. This positive outlook on job prospects and personal finances makes India an exciting country for consumer marketing.

The survey also suggests that the country is witnessing a retail boom, with nearly 66 per cent consumers excited about trying out new products and services. Apart from that, disposable incomes are venturing beyond traditional savings to investments in the stock markets. About 44 per cent of Indians are willing to take the plunge into the continuously bullish market.

Looking back over the last six months, consumers in the Asia Pacific region and North America were the most optimistic, while the attitudes of Portuguese have worsened further over the previous six months.

“The positive outlook towards the job market has empowered Indian consumers with more disposable income than they have had at any time in recent history, creating a new set of consumers whose eagerness to splash out is not limited to the festive seasons,” said Sarang Panchal, Executive Director, Customized Research Services, ACNielsen South Asia.

For the coming year, India is clearly the most optimistic country in the world. Indians have made a leap of faith and remain at the top of ACNielsen’s global ranking, with a confidence index of 132 points, nine points ahead of the world’s second most optimistic nation, New Zealand.

“The impact of outsourcing and the flourishing of the IT sector have opened up a lot of avenues for the Indian youth. The key challenge at the moment is ensuring that adequate training and grooming are available to sustain this prosperity over time. Further, employee satisfaction is likely to be the metric for this young breed of corporate associates,” added Pancchal.

With wallets laden and increasingly competitive airline tickets, more and more Indians are opting for leisure vacations. The survey clearly points to home improvements (38 per cent) and leisure holidays (37 per cent) as the two pursuits Indian consumers are willing to indulge in.

While the major concerns for Indians over the next 12 months are the economy and their health, this number has dropped from 37 per cent and 31 per cent to 22 per cent and 11 per cent, respectively.

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