{"id":31250,"date":"2009-12-18T23:58:51","date_gmt":"2009-12-18T23:58:51","guid":{"rendered":"http:\/\/www.corporate-eye.com\/blog\/?p=31250"},"modified":"2009-12-19T01:54:39","modified_gmt":"2009-12-19T01:54:39","slug":"economic-considerations-value-and-store-brands-will-dominate-purchase-trends-in-2010","status":"publish","type":"post","link":"https:\/\/www.corporate-eye.com\/main\/economic-considerations-value-and-store-brands-will-dominate-purchase-trends-in-2010\/","title":{"rendered":"Economic Considerations, Value and Store Brands will Dominate Purchase Trends in 2010"},"content":{"rendered":"<p><img decoding=\"async\" class=\"alignleft size-full wp-image-31252 lazyload\" title=\"store_brand\" alt=\"store_brand\" data-src=\"https:\/\/www.corporate-eye.com\/main\/wp-content\/uploads\/2009\/12\/store_brand.jpg\" width=\"206\" height=\"155\" data-srcset=\"https:\/\/www.corporate-eye.com\/main\/wp-content\/uploads\/2009\/12\/store_brand.jpg 240w, https:\/\/www.corporate-eye.com\/main\/wp-content\/uploads\/2009\/12\/store_brand-150x112.jpg 150w\" data-sizes=\"(max-width: 206px) 100vw, 206px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 206px; --smush-placeholder-aspect-ratio: 206\/155;\" \/>A new report by Nielsen Business Media identifies <a href=\"http:\/\/blog.nielsen.com\/nielsenwire\/consumer\/north-american-consumer-sentiment-improves-but-spending-still-weak\/\">consumer purchasing trends in the U.S. in 2010<\/a>, and as you might assume, the fallout from a weakened economy is expected to continue to have an effect in purchasing in the coming year.<\/p>\n<p><strong>Three of the 2010 consumer purchasing trends in the U.S. can be directly related to brand strategy:<\/strong><\/p>\n<p><strong>1. The economy<\/strong><\/p>\n<p>Economic considerations won&#8217;t go away in 2010.\u00a0 Instead, consumers have become savvier shoppers in recent years thanks to the weak economy.\u00a0 In 2010, consumers might start to see an end to the recessionary tunnel, but they won&#8217;t give up their savvy ways when it comes to spending anytime soon.\u00a0 Discount brands and brands that make consumers feel good about spending their money will gain market share while brands that represent more frivolous spending will have a harder time retaining or gaining market share.<\/p>\n<p><strong>2. Value<\/strong><\/p>\n<p>After living through a recession, consumers in the U.S. expect more value for their dollar than ever.\u00a0 Brands that push the value proposition (whether they&#8217;re luxury or discount brands) and live up to consumer expectations based on those value propositions will prevail.<\/p>\n<p><strong>3. Store brands<\/strong><\/p>\n<p>Generic brands and store brands will continue to grow, again, as a result of recent economic conditions, which prompted consumers to try these lower cost alternatives and in many cases realize that they&#8217;re just as good or better than more expensive, branded alternatives.<\/p>\n<p>In short, we might be over the worst part of the economic struggles the U.S. and much of the world have faced in recent years, but consumer purchasing habits won&#8217;t revert back to the way they were before overnight.\u00a0 Brands that recognize that and communicate messages of value, frugality, and trust will be better positioned than their competitors in 2010.<\/p>\n<p>You can read a more detailed overview of the study (including results and predictions for Canada) <a href=\"http:\/\/blog.nielsen.com\/nielsenwire\/wp-content\/uploads\/2009\/12\/Dec-09-NA-NEC.pdf\">here<\/a>.\u00a0 The full analysis is available for <a href=\"http:\/\/blog.nielsen.com\/nielsenwire\/wp-content\/uploads\/2009\/12\/Dec-09-NA-NEC.pdf\">download here<\/a>.<\/p>\n<p>What are your predictions for consumer purchasing behavior in 2010?\u00a0 What do you think about the predictions from Nielsen&#8217;s analysis?\u00a0 Leave a comment and share your thoughts!<\/p>\n<p><em>Image: <a href=\"http:\/\/www.flickr.com\/photos\/dallas123\/3291426253\/\">Flickr<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new report by Nielsen Business Media identifies consumer purchasing trends in the U.S. in 2010, and as you might assume, the fallout from a weakened economy is expected to continue to have an effect in purchasing in the coming year. Three of the 2010 consumer purchasing trends in the U.S. can be directly related [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":31252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[95,10],"tags":[6086,100,6087,6085,5875,6083,6084],"class_list":{"0":"post-31250","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-brand","8":"category-ideas-and-trends","9":"tag-2010-branding","10":"tag-brand-strategy","11":"tag-branding-predictions","12":"tag-branding-trends","13":"tag-marketing-trends","14":"tag-nielsen-business-media","15":"tag-purchasing-trends","16":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Economic Considerations, Value and Store Brands will Dominate Purchase Trends in 2010<\/title>\n<meta name=\"description\" content=\"The fallout from a weakened economy is expected to continue to have an effect in purchasing in the coming year. 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