In the U.S., food and gasoline prices are surging — along with unemployment, personal debt, and foreclosure rates.
These are just a few of the economic pressures that have forced U.S. consumers to change the “what, when and how” of their spending, James Russo, Vice President, Food Sector Marketing, Nielsen, writes in the July issue of Nielsen’s “Consumer Insight” online newsletter.
Drawing on data culled from across Nielsen’s global marketing, media, entertainment, and retailing services, Russo demonstrates how consumers and retailers are adapting to the tough economic conditions. His advice for manufacturers and retailers struggling to stay profitable is simple: take advantage of category-specific, in-store opportunities.
“For products that are performing strong and showing immunity during a recession, manufacturers and retailers in these industries have the opportunity to increase product exposure even further,” Russo writes. “For products at the other end of the spectrum, companies would be well-advised to target their marketing efforts to shore up performance and maintain traction during tough times. Now is the time to plan for recovery.”
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View the latest issue of Consumer Insight.