Insights from the Future Foundation: Tips for FMCG brands
FMCG firms are facing the fallout from a major change of heart among consumers that has occurred over the past couple of years: people are putting a lot more thought into their purchase decisions than before.
Moreover, according to a briefing hosted by the Future Foundation in May 2010, this new consumer mindset is likely to prevail for many years.
Two of the factors behind the trend were discussed at the briefing. Firstly, the global economic downturn has squeezed household budgets; secondly, the digital revolution has allowed consumers to gather independent data on products and services from other online users.
The post-recession consumer
In his presentation, Christophe Jouan, the Future Foundation's ceo, said the so-called Nice Decade of economic growth that preceded the credit crunch-induced economic downturn was both "a pretty unique era" and "unsustainable".