Make a dramatic difference by using new models that factor in current market conditions and putting next generation action standards in place that measure all facets of the consumer adoption process.

Nic Covey, Director of Insights for The Nielsen Company, recently presented and participated in a panel discussion at the European Journalism Centre’s “Innovation in Youth Media and Next Generation Classroom” event.

Most businesses want to build a loyal customer base, people who will frequent their stores or buy their products on a regular basis and talk positively about their experiences with their friends and associates.  Loyal customers provide a steady revenue stream, higher profit margins and confirmed evangelists who do much of their marketing for them. 
With the country in the grips of a recession, however, consumers are focusing on price more than where they purchase goods.  Recent surveys have reported a decline in corporate allegiance.  But all is not lost for …

As consumers continue to tighten their wallets, product manufacturers are feeling the pinch. Add higher costs for health care, energy and raw materials to the equation and many manufacturers are forced to cut costs to maintain sales and profitability.  But if there is one overarching message for manufacturers, it’s this: do not pull back on innovation or marketing support.  Nielsen research reveals that brands that continued to invest in these areas during a downturn performed significantly better than their peers once recovery takes hold.
Nielsen looked at more than 100 client engagements …

Todd Hale, Senior Vice President, Shopper and Consumer Insights
The recession gripping the U.S. has prompted many families to eat in and to entertain at home, and in many ways, return to basics in an effort to save money.  Many analysts are predicting that the changes being witnessed in consumer behavior will be permanent.  While these changes have had a negative impact on some sectors, others have benefited by adapting to the changing times and leveraging fundamental brand strengths.  Two such sectors — canning and freezing supplies, and gardening supplies – …

Al McClain, Founder & CEO, Retail Wire
A primary theme of the high-energy general session on Day Two of the Nielsen Consumer360 conference was encouraging attendees to use the current recession as a learning opportunity, in order to build better relationships with consumers and/or reinvent business models.
From Nielsen’s James Russo, there was talk of the fact that great companies such as GE, Disney, Microsoft, and HP were started during economic downturns. And, he felt that consumers may soon be spending more, albeit with some restraint. Signs of the recession …

When the economy is buzzing, most companies can afford to overlook inefficiencies or take a broader view of what their customers want. But when times are tough, as they are now, companies have little choice but to re-evaluate how they do business if they hope to continue to grow and prosper. Managers are faced with essentially two choices: cut costs or understand precisely where the most profitable market demand is and align more effectively with it. Both options are difficult, but only one can achieve both short- and long-term objectives.

Tom Pirovano, Director, Industry Insights
Sales of store brands, or private label products, began to spike in 2007 just as we were seeing the first signs of an economic downturn. At first, these private label sales were driven by higher commodity prices, but volume growth began to catch up with dollar growth in mid-2008. As the economy continues to struggle, more and more consumers are replacing their branded products with private label equivalents. Store brands are up 10% to $84.4 billion in annual sales across categories …

Each new day seems to bring more bad news about the economy.  With uncertainty and fear looming, American consumers have cut back on their shopping trips and changed the way they spend their hard-earned money.  For food retailers and consumer packaged goods manufacturers, these new trends do not necessarily spell doom.  If they know how to address consumers’ changing needs and can successfully engage them by appealing to their desire for value, significant opportunities remain.
Even though some analysts predict that the U.S. economy may have hit bottom and are cautiously …

A jar of mayonnaise or a package of tea is a straightforward product.  But if manufacturers market those products in the U.K. the same way they do in the U.S., they are probably making a mistake.  Nielsen has compiled the following “shopper truths” from around the world to help consumer packaged goods manufacturers and retailers successfully navigate consumer shopping behavior:

Same category, different market: often requires a different shopper strategy — While some universal truths exist within categories across borders, success of activation strategies …