Abstract
Overview
Introduction
Uncertainty currently clouds the economic prospects of both the US and world
economies. This is because the US economy for the past decade has represented
around 30% percent of the world total. The deepening international economic
downturn is encouraging consumers to adjust their attitudes towards
consumption but a gap exists however between shifting attitudes and actual
behaviors
Scope
- Insightful analysis documenting the drivers behind consumers' increasingly
recessionary attitudes and behaviors
- Qualitative examination of how, why, and to what extent consumers'
recessionary concerns are changing actual consumption in the CPG space
- Detailed action points offering practical strategies based on the trends
and insights analyzed in the report
- Covering nine core countries across Europe, North America and Australasia;
France, Germany, Italy, Netherlands, Spain, Sweden, UK, US and Australia
Highlights
Maintaining brand support through difficult times helps take advantage of
competitors who often reduce marketing efforts. As consumers spend more time
considering options before they spend money, this increases the likelihood of
getting their attention with effective communications
Consumers may feel increasingly pessimistic and pressured by the negative
economic environment, but this does not necessarily lead to a change in their
behavior. An attitude-behavior gap exists making it essential for the CPG
industry to be clear on the difference between what consumers are saying and
when/if they actually start acting on it
Premium CPG products have in-built advantages in a recessionary environment.
Dedicated premium consumers either tend to have income advantages supporting
their consumption behavior or will make sacrifices in other areas to maintain
their premium spending
Reasons to Purchase
- Improve decision making: cutting marketing spend can be a mistake; use
this report to understand the tactics required for success in a recession
- Understand the key issues affecting consumers' FMCG consumption against
the backdrop of a recession
- Access insightful qualitative data aggregating the most compelling and
recent research in this timely and important topic
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