Chinese consumers’ confidence strengthens in the Q2

By Ding Yining | August 5, 2016, Friday |

Online Edition

The Nielsen Consumer Confidence Index increased one point to 106 in the second quarter, with consumers adjusting to the new normal along with a steady growth of China’s economy, a latest survey shows.

The global Consumer Confidence Index remained flat at 98 points in the second quarter.

Chinese consumers were more optimistic about job prospects and personal finance during the first half of 2016 than half year ago, according to the quarterly survey of 3,500 domestic respondents released today.

A many as 59 percent of the respondents believed their job prospects are excellent or good, an increase of 3 percentage points.

“This trend is likely to continue as China’s economic development is stable and people’s income improving and consumers’ willingness to spend in small and medium-sized cities are steadily growing,” says Yan Xuan, president of Nielsen China.

Consumers become more conservative on daily household spending, and 49 percent households want to hold consumptions rather than increasing, while expressing willingness to increase budgets more on personal care, physical and mental health to improve life quality.

The survey also finds that consumers in the eastern and southern regions are more open to trading up and trying new products, while those in western and northern areas tend to buy products they are familiar with.

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Chinese consumers’ confidence strengthens in the Q2

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