Title: Dissecting the Downturn Generation: Recognizing and Leveraging Permanence in Today’s Transformational Economy
Description: Experts have made so many prognostications about the recession’s duration that at least a few are bound to be correct. But the central question for the consumer packaged goods (CPG) industry focuses not on when the recession will end, but how shoppers will behave five, 10, and 20 years into the future. IRI forecasts that today’s shoppers will adopt many of the practices Depression-era shoppers implemented both to weather the recession as well as to keep a close eye on spending long after the recession ends. IRI has dubbed these shoppers the “Downturn Generation.”
This IRI Point of View closely examines the shopping behaviors and saving strategies this group is adopting during the current economy and which of those strategies will remain, even after an economic recovery. This unique thought leadership piece outlines nine strategies for CPG manufacturers and retailers to take maximum advantage of today’s new opportunities by generating uplift among these shoppers. Successful manufacturers and retailers must recognize that a significant portion of their shoppers will carry on with their frugal practices well into the future and will rewire their businesses to take advantage of the opportunities downturn thinking generates.
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