What do Spam and Ramen noodle sales have in common? Both are leading indicators that it’s crunch time in the aisles of America’s retailers as consumers tighten belts and budgets in response to investment losses and economic uncertainty.

Consumer habits are slow to change and their purchase interest in everyday goods is relatively stable over time regardless of macroeconomic conditions. The same principles that guide new product innovation decisions during normal economic times are relevant during recessionary times too. However, there are important clues on how to think differently about innovation when times are tight.

A new Pew Research Center survey suggests that most Americans value diversity and favor living in communities with a variety of income levels, political views and ethnic groups. Data from the U.S. Census Bureau and The Nielsen Company, however, paints a somewhat different picture, which shows that neighborhoods are still largely divided by race—and increasingly—by economics and politics.

Despite waning viewership numbers—and a male audience that has gone MIA—award shows remain popular with advertisers, and even more so with artists who can see music sales climb as much as 700% one week after the show airs.

China’s export-driven economy has slowed as a result of the global recession. With a drop in exports and a growing unemployment rate, the Chinese government is urging consumers to spend in order to spur the economy. While various stimulus plans are being investigated, the nation’s success may rely as much on altering cultural dynamics as replacing economic models.

Todd Hale, Senior Vice President, Consumer & Shopper Insights, Nielsen U.S., Jonathan Banks, Director Retail Insights, Nielsen Europe, James Russo, Vice President of Marketing, Nielsen U.S., Jean-Jacques Vandenheede, Director Retail Insights, Nielsen Europe

CI SUMMARY: A shift from nice-to-have to need-to-have assortment and retailing is a common thread across the U.S. and abroad. An interview with Nielsen’s top industry thought leaders reveals how shopping patterns across the world have been affected by the economic downturn, how consumer packaged goods manufacturers and retailers are coping and what lies ahead for the rest …