Consumer confidence index in Ukraine is growing for the fifth consecutive quarter: in Q4 2017 it reached 61 points, which is 3 points more than in Q3 2017 and 9 points more than in Q4 2016, according to the Nielsen global consumer confidence report. “Consumer behaviors are evolving. However, we see how demanding they are in selection of goods, services and brands,” Managing Director of Nielsen in Ukraine and Belarus Vaios Dimoragas said.
According to him, having a limited budget, consumers want impressions and positive emotions from shopping, the Internet helps them make the right choice before buying.
The index is calculated by three indicators: the consumers’ assessment of the prospects for the labor market in the next 12 months, the level of financial wellbeing in the next 12 months, the willingness to spend money at the moment.
The increase in the consumer confidence index in the fourth quarter of 2017 compared to the third quarter of the same year is due to the improvement in the indicators for all three indicators.
According to the document, the absolute majority of Ukrainians continues to believe that the country is in a state of crisis, while the number of those has increased slightly: 93% – in the fourth quarter 2017 against 92% – in the third quarter 2017.
The number of consumers, who believe that the country will not get out of the crisis in the next 12 months, fell to 66% at the end of 2017 with a 74% quarter before.
On the first and second places in the list of concerns of Ukrainians are still feelings about the growth of utilities tariffs and war: 29% and 28% of consumers are worried about this, respectively. The top five reasons for experiencing also include rising prices for food, economy and health, according to the study.
According to it, 26% of Ukrainian consumers do not have free funds after buying essential goods. Those, with whom they stay, spend free money on new clothes (37%), make savings (29%), have fun outside the house (26%).
The value of the index above 100 points indicates the prevalence of optimists in the country, pessimists are below 100 points, and the value of 100 points is about the balance between optimistic and pessimistic expectations from the future.
CONSUMER CONFIDENCE, INDEX, NIELSEN
