Never mind the Olympics, here comes the doldrums

Reading Time: < 1 minute

The FT featured an interesting article that talked about how US and western consumers are downshifting in their purchasing patterns:

  • Working to a strict shopping list
  • Buying smaller amounts of products
  • Taking a more rational approach to decision making with an extra focus on cost

One respondent talked about western markets taking on developing world characteristics. Innovation has moved from new product development to enhance margins to working smarter to follow consumers down the price point. Consumer packaged goods companies are currently working through product offerings and packaging to meet these new consumer realities, how long will it be before it starts looking at marketing?

Archived from blog posts I wrote for PR Week