According to an online survey conducted by market researcher Nielsen, India continued its run as a leader in the global Consumer Confidence Index in the last quarter of 2014. It was closely followed by Indonesia and Philippines. Prevailing consumer confidence across India reached 129 in December 2014 that registered a three point rise over the previous three months, and a 14 point increase compared to the year long period. The report suggests that India led the Consumer Confidence Index for the third quarter in a row.
The findings of the latest online survey conducted for a period between 10th and 28th November revealed that 82% of the Indian urban respondents displayed highest level of confidence with regards to better job prospects in the next 12 months. In case of Indonesia and Philippines, 73% of the urban respondents indicated optimism pertaining to the future job opportunities in their respective countries. Piyush Mathur, President, Nielson India region, mentioned that the urban online consumers across India showcased high levels of optimism as the year ended. The level of optimism indicated better numbers compared to the year bygone as well as the preceding quarters.
According to Mr. Mathur, the lower rate of inflation and positive economic opportunities created across the region seemed to have aided significantly to the increased consumer sentiments. Additionally, the new initiatives led by the government to enhance economic growth in the country have also proven to be instrumental in driving the growth story of India.
The research report indicates a steady increase in confidence across different sectors of consumer goods that are poised to grow in double digits by the end of 2015. The growth forecast indicates increase in sales of consumer goods. The forecast was confirmed earlier this month as India’s largest maker of consumer goods Hindustan Unilever Ltd reported an increase in sales by 7.69% for the last quarter of 2014 that ended in December.