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Symphony IRI Tracks Consumer Retail Behavior for 2012

Posted: February 26, 2013

Reverberations from the nation’s economic roller coaster ride have been felt throughout the consumer packaged goods (CPG) industry for several years now, and 2012 was no exception. Consumers are still attempting to ease budgetary strains and are embracing a wide variety of money-saving strategies. The latest research from SymphonyIRI Group’s Times & Trends, “2012 CPG Year in Review: Finding the New Normal,” provides insights into today’s capricious consumers and the impact their behaviors are having on CPG growth trends.

“For 2012, we forecasted that shoppers would continue to define value largely based on price, manufacturers and retailers would pass ongoing commodity price increases on to the shopper, and private label sales would continue in their current ranges,” says Piyush Chaudhari, president of the Americas, SymphonyIRI. “These predictions largely came to pass, and we expect 2013 to resemble these same trends in many ways.”

SymphonyIRI predicts shoppers will remain frugal in 2013, even though there will be continuing signs of economic recovery and strengthening. In addition, the following trends identified in 2012 will continue in 2013:

”The nation is far from having a firm foothold on growth and stability, and consumers and marketers alike are very aware of this reality,” says Susan Viamari, editor of Times & Trends, SymphonyIRI. “Consumers’ pursuit for value is as intense as ever, and it has served to amplify industry competition. Innovation that supports key shopper rituals, such as those around self-driven, home-based living, is being well received in the marketplace and will continue to help spur growth.”

To effectively compete in 2013, CPG manufacturers and retailers should consider the following action items: