Are we heading in the right direction? It appears so, based on this recent consumer confidence index from Nielsen. Consumers in India, Indonesia and Norway topped the confidence index, while the most pessimistic consumers were in Latvia and Japan. The US was basically in the middle, in line with the global mean.
What does this mean to innovation leaders? With this positive information in mind, it makes a lot of sense for company’s that have been holding off on innovation initiatives to get going again. Having run global consumer businesses before, I can appreciate the need to limit spending in uncertain times in order to maintain profitability targets; however, this should be a strong enough indication to start re-filling the pipeline. Several studies have indicated that private label products have gained market share over the past 24 months. This isn’t surprising given consumers’ heightened price awareness. But, now is the time for brands to begin making a comeback! Enhancing their value proposition through new features and benefits is a critical part to regaining share as consumers cautiously begin spending more. Global Consumer Confidence Rebounds, but Spending Still Restrained | Nielsen Wire.