Almost half of consumers around the world say that the recession is changing how they buy non-prescription medications. Some (12%) say that they will use less of them, while others are switching to natural and traditional remedies. According to a major new study from Nielsen, how consumers self-medicate and choose non-prescription medications varies widely by region. For example, more than half of Europeans tend to look to their pharmacist for advice on which products to use, while only 13 percent of Americans do the same.
Most consumers said that they would continue to purchase non-prescription medications, although they may switch to cheaper products or use them less frequently. Americans, Germans and Scandinavians all indicated that they would be looking for less expensive products.
Overall, the survey highlights the importance of understanding local consumer needs, as regulatory, distribution and marketing framework vary greatly by country, and cultures have different approaches to what products they use and how they buy them. Manufacturers that understand these nuances are better positioned to successfully ride out the recession and maintain some level of growth.
Read the full article about Nielsen's landmark study of the global non-prescription medication market in the current edition of Consumer Insight.