Global Consumer Confidence for the Asia Region Q3 2021

Export-oriented Asian markets continue to face challenges that will impact consumer confidence. New waves of COVID-19 and the “zero-tolerance” strategy adopted in most Asian markets will, even for their arguable public health benefits, bear continuing economic losses that drag on consumer sentiment. India is still facing economic headwinds – it is unlikely that the Q3 level of consumer confidence will be sustainable. Going forward, much will depend on the success of vaccination programs. Markets with high vaccination rates should see their governments turn to supportive economic policies to boost consumption. Markets with lower vaccination rates will have to balance growth considerations with COVID-19 containment measures, potentially dampening consumer sentiment.

In Asia, consumer confidence rose to a record-high of 126 in 2021 Q3, up from 115 in 2021 Q2, on the back of strong improvements in India. However, this high level is unlikely to last, as many markets in the region, including India, still face major economic uncertainties.