The year 2008 will go down in history as the year the United States entered the most significant recession since World War II. It is a recession that has now, in early 2010, officially entered its second year. It is not surprising that consumers have made substantial changes to their daily lives to withstand this tumultuous economy.
The home has once again become the nucleus for daily living. Shopping habits have undergone a stark metamorphosis. CPG marketers are nimbly adapting to these changes with beefed up promotional programs, aggressive pricing tactics and refined assortment/distribution strategies.
The year 2010 is one of opportunity. With ongoing economic uncertainty, consumers are turning to the packaged goods industry to satisfy a growing number of daily needs. CPG marketers with the ability to understand, or even anticipate, these evolving needs will forge relationships that will outlast the recessionary environment.
This issue of Times & Trends explores economic, channel, department and category performance over the past year. The report is intended to help CPG marketers understand market opportunities and risks by benchmarking performance versus the industry, and act on this knowledge with confidence and agility.
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