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 …

Global declines in consumer activity appear to be moderating or hitting bottom, according to the new edition of the Nielsen Economic Current, which is based on the company’s key consumer trend data as well economic data to create a concise indicator of consumer behavior.  Out of the 11 major GDP countries, only Germany showed an increase in consumer behavior in February.
“Consumers worldwide appear to be in a holding pattern and we see evidence that consumer spending might be positioned to turn around,” said James Russo, Vice President Global Consumer Insights …

Global consumer confidence has reached an all-time low, according to the Nielsen Global Consumer Confidence Index [download]. Thrifty habits being formed during the downturn will carry over into the recovery.
In the past six months, the index has plummeted to a record low 77 points from 84 points. The catalyst: Latin America, Russia and other emerging nations are now feeling the full effects of a recession that began in the United States, officially, in December.
Though consumer anxieties about the economy take many forms, the most widespread fear centers on job loss. …

The Canadian economy showed signs of improvement in January, while the economies of Germany, Italy and Spain showed signs of weakening economies, according to the latest edition of Nielsen’s Economic Current, which consolidates key consumer data from the company’s global research resources.  The U.S. economy continued to be weak, but showed no signs of worsening.
Other key findings from the survey include:

U.S. consumers reversed a six month trend of declining number of shopping trips and spending per trip.
Consumers in the U.S. and Canada spent more per trip across fast moving consumer …

James Russo, Vice President, Marketing, Nielsen
With unemployment reaching 25-year highs, it is no surprise that Americans are nervous about their futures.  Over the last twelve months, confidence has nosedived as consumers worry about keeping their jobs, paying their mortgages and other bills, and their retirements.
We are on the verge of a potential fundamental shift in how consumers shop and buy that could have ramifications long past economic recovery.  They are shopping less and changing the types of products they purchase, such as shifting …

In perhaps the most challenging and volatile economic climate in over 35 years, holiday spending across food, drug, mass, and convenience stores saw a 5.8% gain. Other bright spots were online shopping, new movie releases and Blu-ray DVDs.

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.

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 …

Credit markets freeze. Financial institutions implode. Economic benchmarks plummet. Consumer spending plunges. Unemployment skyrockets. Bail out plans are unveiled. Global markets fall like dominoes and consumers tighten their hold on wallets. What are a retailer and manufacturer to do? Read on for strategies on how to manage the economic downturn.

The global financial crisis is impacting every market around the world, but that doesn’t mean consumers everywhere are reacting the same way. While huge numbers of people feel the impact of rising fuel prices and plan cutbacks in new clothes, utilities and entertaining, it’s the consumers in the world’s developing markets who feel the most optimistic.