Nielsen's research puts China at number six in the world in terms of Consumer Confidence Index. (Photo : Reuters)
Marketing and research firm Nielsen said on Tuesday that Consumer Confidence Index decreased by 4 percent in the last quarter of 2014. This amid smaller cities' bleak outlook for employment and personal finances.
Based on last year's data, from 111 in the previous quarters, the index dragged down to 107 in the final quarter.
However, Nielsen stressed that China's big picture is intact.
Yan Xuan, president of Nielsen China, said that "Chinese consumers remain optimistic about job prospects, personal finances and spending in the coming year when compared with their global peers for most of the markets."
For the whole 2014, the index stayed at 110, intact from two years' age, and 13 percent higher than international average.
Among the 60 counties and localities measured by Nielsen, in terms of consumer confidence index, China holds the ranking at number six.
The index represents consumer perceptions when in comes to local employment, finances and intentions of spending. A number of above the baseline of 100 indicates a level of optimism, while a number below the baseline indicates a level of pessimism.
Yan said that Nielsen's survey also showed index in big cities where the cost of living and the consumers' buying capacity is stronger compared to their rural counterparts.
Confidence in employment and finances rose 3 percent each in big cities such as Beijing and Shanghai. The consumers' intentions to spend increased by 4 percent year-on-year.
According to Kiki Fan, managing director of Nielsen China, consumers in major cities reached high records in the three indicators in the last quarter.
Fan also said that the factors that attributed to this includes expectations for a strong economy and appropriately controlled consumer prices, hopes for quality life and a stong online commerce experience.
As Nielsen's report also pointed out, city people increased their online spending up to 12 percent from last year.
Fan further concluded: "The confidence dip in the fourth quarter will not have a big impact on the Chinese consumer market, where the transition from meeting the basic demands to satisfying aspirations for a better life is happening across the country."
