During 2008, consumers faced unstable financial markets, major workforce reductions, crunched credit markets, and rising gas and food prices.
Recent headlines have been brighter, and there are signs that the economy is improving. The recession is not over, however, and consumers remain firmly entrenched in savings mode.
Though the consumer packaged goods industry has faced struggles in this difficult economy, growth opportunities have emerged from changing consumer rituals.
CPG prices have remained steadfastly in the spotlight over the course of the recession. Commodity and fuel prices skyrocketed in 2008, sending CPG prices in an upward direction and placing increased pressure of consumers’ already strained wallets. While commodity and fuel prices have eased, CPG prices remain well above historic norms. Consumers are looking for price relief, and CPG marketers are looking for ways to honor this demand.
This year will be an exciting one for CPG marketers.
This issue of Times & Trends provides insights into current and emerging CPG marketing trends being employed by an industry seeking to the new world of shopper behavior.
|