Last year, top-flight consumer goods companies were boasting about their ability to push rising costs through to customers and grow their profit margins amid rapid inflation.
These days, they aren’t so cocky. Weary consumers, particularly at the lower end of the financial spectrum, are looking for ways to cut back on spending.
Read the full article on the Financial Times website (PayWall)
NAM Implications:
- i.e. brand loyal consumers have been tempted to try own-label alternatives…
- …and to their surprise, found that the difference vs branded equivalents did not justify the premium.
- Meaning brands needed to reduce that price difference to a point where ‘loyals’ return to the brand.
- Hopefully…
