In the quest to understand and predict consumer spending patterns, many CPG marketers may be missing a powerful influencing factor – the economy. Consumer purchase decisions are clearly impacted by a broad range of factors – many within marketers’ control, but the economy provides an underlying current that wields strong directional influence.
The ability to account for the influence of macroeconomic trends will enable manufacturers and retailers to more accurately assess the success of a specific marketing or promotional initiative, identify the optimal timing of a new product introduction or advertising campaign and enhance the accuracy of sales forecasts. The effects are far-reaching.
This report summarizes results from an extensive analysis of the link between U.S. economic health and CPG/healthcare industry sales and highlights implications for CPG marketers.