Consumer confidence is dipping. Inflation in the basic necessities of food, shelter and energy have been sky-high. And people are also allocating more of their income to home payments as personal savings rates decline and credit-card balances grow. These factors may foretell an economic downturn that could look much different than prior recessions.
This new report from IRI and RBC Capital Markets looks at current trends from the CPG retail perspective and compares them to the 2008 recession to reveal the lessons that CPG manufacturers and retailers can leverage for success in today’s environment. It also examines the playbook that worked for industry giants such as Coca-Cola and Procter & Gamble in the last recession. And it highlights the investments, innovations, revenue management levers, marketing tactics and planning approaches that should be priorities for CPG players today.
Much of this information was presented in IRI’s “Driving CPG Growth Through an Economic Downturn” webinar. A webinar replay is available here.