Sales is an integral part of any business and to sell well you have to know your market. It is good to know that Philippine consumer confidence indexed at 119 in the last quarter of 2012, a one-point increase from the third quarter, according to consumer confidence findings from Nielsen, a leading global provider of information and insights into what consumers watch and buy.
Across the 58 countries Nielsen measured in Q4 2012, confidence declined in 33 countries, remained flat in six countries, and increased in 19 countries, compared to the prior quarter. Confidence fell in eight of 14 Asia-Pacific markets in Q4 compared to Q3 2012, with four-point declines in Hong Kong and Taiwan, but the region reported the highest consumer confidence scores overall. India topped the global list with an index of 121, an increase of two points from last quarter, followed by the Philippines with 119 and Indonesia, which declined two points to a score of 117. China increased two index points to a score of 108, while Thailand (115) and Malaysia (103) also scored above the baseline of 100. (See table 1)
"While consumers around the world struggled with increasing economic concerns, consumers in Philippines continue to have a positive outlook,” said Stuart Jamieson, managing director, Nielsen Philippines. “This optimism can be attributed to the strong performance of the economy in 2012 which was driven by the real estate, construction, manufacturing, services, and trade sectors."
The Nielsen Global Survey of Consumer Confidence and Spending Intentions, established in 2005, measures consumer confidence, major concerns, and spending intentions among more than 29,000 respondents with Internet access in 58 countries. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism. In the latest round of the survey, conducted between November 10 and November 27, 2012, consumer confidence rose in one-third or 33 percent of global markets measured by Nielsen, compared to a 52-percent increase in the previous quarter.