The consumer confidence index stood at 95 in Singapore and 103 in Malaysia. Consumers in Singapore were not particularly optimistic about their jobs, with a four-point increase in the number of consumers who feel their future jobs prospects would not be good. There was a further three-point increase in consumers who are likely to hold back on spending.
“The slight pullback in consumer confidence in Singapore is a likely predictor of a cut-back in discretionary spending in 2013,” said Joan Koh, managing director, Nielsen Singapore and Malaysia. “For companies, this means that competition intensifies and it is even more important for marketers and retailers to execute an optimal marketing strategy which ensures positive returns.”
In Malaysia, job prospects slipped two percentage points during the last quarter while optimism over personal finances remained stagnant at 62 per cent.
Please see this related story for Nielsen's view of the entire region.
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