With Consumer Confidence Up Last Year, 2018 Shows Promise for Global Product Companies – according to Nielsen
In many markets, the upbeat sentiment helped bolster the sales of consumer product goods in 2017
2017 was a good year for global consumers, with consumer confidence ending the year at a near-record level, according to the fourth-quarter 2017 Conference Board® Global Consumer Confidence Survey, which is produced in collaboration with Nielsen. Notably, 51 markets finished the year with higher confidence than they did in 2016, and the gains were bigger than 2 points in 46 markets.
Among the world’s 10 largest economies, China, Japan, France and Italy experienced gains in confidence of more than 5 points last year. Comparatively, confidence in India, the U.S. and the U.K. saw confidence declines of more than 5 points. These three markets, however, remain among the most confident in the world.
SAUDI ARABIA IS POISED FOR TRANSFORMATION
Across Africa and the Middle East, early indicators suggest an upswing in economic outlook and consumer sentiment this year. Inflation pressures are easing in several markets, and fewer consumers are citing the economy as a top concern. With a more positive mindset among consumers, retail sales should increase.
In Saudi Arabia, a massive national transformation plan is underway, much of which centers around the government’s Vision 2030 plan. The mid- to long-term outlook for the market is bullish: The economy should benefit from higher oil prices and a reduction in subsidies. Additionally, improved fundamentals have bolstered consumer confidence, which increased 6 index points to 99 in fourth-quarter 2017, just below the optimism base of 100.
For additional insights, download the global version of Nielsen Q4 2017 Quarter By Numbers report.