Consumer confidence rose in the first half of 2017, reflecting improving sentiment about job prospects and personal finances. As a result, consumers are indicating a growing willingness to open up their wallets and spend some of their spare cash.
But the first place they plan to put that spare cash is into savings, Nielsen found in its latest global consumer confidence survey.
In Q2 2017, the study found that 52% of internet users surveyed in 63 countries around the world said they would put spare cash in savings. That was up slightly from the 50% who said so in Q4 2016.
The second most common choice was to use money for vacations, at 43%, up 5 percentage points from Q4 2016.
In third was the purchase of new clothes, up 4 percentage points to 39%.
The survey results align with a variety of data—particularly in the US—indicating a continued focus on shoring up personal finances and spending on experiences, rather than physical goods.