Like shoppers around the world, consumers across Asia Pacific have become focused on saving and reducing debt this year, and as a result, have become less inclined to spend on bigger ticket items and out-of-home-entertainment.

The notion that the global economy may be on the verge of recovery has not yet translated into improved consumer spending or confidence, although consumers in the emerging countries – Brazil, India and China – seem to be more optimistic than others and are loosening their purse strings ever so slightly, according to the new edition of the Nielsen Economic Current.  Of the 12 countries Nielsen now tracks, all but Taiwan (which declined) showed no significant change in measures of spending.  Canadian, Western European and American spending was, at best, …

Consumers’ hopes for an end to the Global Economic Crisis have been bolstered in the 2nd Quarter 2009, according to a Nielsen Global Consumer Confidence Survey released today. The Nielsen Global Consumer Confidence Index, conducted in 28 markets in June 2009, rose to 82 – an increase of 5 points (from 77) from March 2009 – spurred by renewed consumer optimism and stock market gains in BRIC markets (Brazil, Russia, India, China) and key Asian countries. [See full graphic for complete details]

“In the previous Nielsen Global Consumer Confidence survey conducted …

Overall ad spending stayed afloat in Q1 ‘09 vs. Q1 ‘08
Toward the end of 2008, the global downturn was adversely impacting advertising spending throughout many key markets around the world, with Europe and the Americas struggling more than others.  The exception to this was Asia Pacific (APAC), which appeared to be relatively impervious to the worst of the downturn. Beginning in late 2008, and escalating as the first quarter of 2009 unfolded, the majority of APAC markets were finally succumbing to declining economic conditions with substantial declines in advertising activity. …

While Chinese consumers may be cutting back in some areas as a result of the economic downturn, one area that is not taking a hit is travel.  According to the latest China Outbound Travel Monitor from Nielsen, 85 percent of Chinese travelers said that they “definitely” or “probably” will travel outside the country at some point over the next 12 months.
“Even under current financial pressures, the Nielsen China Outbound Travel Monitor shows that the Chinese travel market continues to boom and is likely to grow further.  The interest lies not …

2008 was a year of highs and lows for China – the Summer Olympic Games in Beijing were a monumental achievement while the Sichuan earthquake in May was tragedy.   The economy recorded 9 percent growth – the first year of single-digit growth since 2003 and below the average rate of 9.8 percent in the past 30 years.  Contrary to experiences in other countries, metrics actually rose in the last quarter of 2008: industrial output, private consumption, retail sales and bank lending all increased.  For the whole year, ad spending posted …

Most global consumers agree that their countries have hit recession, but opinion on how long the recession will last remains mixed, Nielsen reported Wednesday.
While 53% of those surveyed by Nielsen think their country has hit a prolonged recession that will last more than 12 months, 18% of consumers, concentrated in a handful of emerging markets, like India, Vietnam, China, and Russia, told Nielsen they expect their countries to be out of recession within the next 12 months.
In contrast, consumers in Japan, Germany, Argentina, Mexico, Turkey, Italy, Taiwan, the U.S., and Spain were the …

Chinese are more likely to travel this week for the National Day Golden Week holiday than they were earlier this year during the Chinese New Year holiday, Nielsen reported Tuesday.
According to a survey conducted by Nielsen, six in 10 Chinese plan to travel between September 29 and October 5 for Golden Week, while just 42% of Chinese reported making plans to travel this past February for Chinese New Year celebrations. 

Hong Kong residents are not immune to the pall cast by the current global economic slowdown and rising inflation.
This year, consumer confidence in Hong Kong has slipped to the lowest level in two years, Nielsen reported Thursday.  Hong Kong’s Nielsen Confidence Index has fallen to 109 in 2008 — from 118 in 2007. 
That trend is forcing Hong Kong residents to change their lifestyles.  According to the most recent Nielsen Consumer Confidence study, 53% of people in Hong Kong are less willing to spend in the next 12 months – up from 39% in 2007.  Two-thirds of Hong Kong residents also reported they …