NielsenIQ Releases a New Report Focusing on Inflation's Impact on Small and Medium Brands
NielsenIQ previews findings from the Brand Balancing Act, a global study providing a perspective on how consumers perceive small and medium-sized brands in the new inflationary marketplace. Amid supply chain challenges, inflationary pressures, and cautious consumer spending intentions, small brands face a challenging playing field. By focusing on consumer brand preferences, performance benchmarking, trend-cycle timing, and meaningful differentiation, small and medium brands can leverage consumer responses of the volatile economy to their benefit.
“Inflation has supercharged the importance of every investment and strategic effort made by smaller brands. As the cost of products rises, so does the cost of missing the mark with consumers’ expectations,” says Lauren Fernandes, Global Director of Thought Leadership. “The good news for small & medium-sized businesses is that despite many SMBs being largely 'unfamiliar' in terms of notoriety according to our recent study, consumers are considering a wider variety of brands when deciding what to buy.”
Large corporations have leverage against inflation and supply chain problems that smaller enterprises often struggle to weather, making the balancing act for small and medium-sized businesses a crucial, but a potentially rewarding effort at this specific point in time. The Brand Balancing Act provides a perspective on how inflationary pressures are impacting small and medium brands and strategies they can use to showcase their value and remain aligned to the core values sought by consumers. The analysis also highlighted:
- 56% of global consumers prefer to buy locally made products from small businesses in their area
- 57% try to support small brands where possible, but are finding it harder to find them on the shelf
- 51% feel that small brands are more authentic and trustworthy than big brands
- 47% think that small brands are usually more expensive but are prepared to pay a bit more
- 86% of global consumers felt that functional reasons like availability, quality and value for money are of utmost importance when making their purchasing decisions
“Today’s macroeconomic environment has created a perfect storm for small and medium-sized businesses to connect with consumers. But that same storm could shadow smaller brands before than can scale. The key will be finding the right levers, based on the right consumer data, to innovate in meaningful ways,” says Fernandes. “With 48% of global respondents saying that they plan to buy more from smaller brands in the future, the small and medium-sized businesses who can understand motivators for purchase in this new landscape will most likely benefit from consumers’ updated preferences.”
NielsenIQ, a global information services company, delivers the gold standard in consumer and retail measurement, through the most connected, complete, and actionable understanding of the evolving global, omnichannel consumer. NielsenIQ is the source of confidence for the industries we serve and the pioneer defining the next century of consumer and retail measurement. Our data, connected insights, and predictive analytics optimize the performance of CPG and retail companies, bringing them closer to the communities they serve and helping to power their growth.
NielsenIQ, an Advent International portfolio company, has operations in 90+ markets, covering more than 90% of the world’s population. For more information, visit NielsenIQ.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Watts Water Technologies Completes WAVE Water Stewardship Verification17.8.2022 17:00:00 CEST | Press release
Watts Water Technologies, Inc. — one of the world’s leading manufacturers and providers of plumbing, heating, and water quality products and solutions — has successfully completed verification for The Water Council’s WAVE: Water Stewardship Verified program, indicating the company has assessed water-related risk across the enterprise, identified the highest water-related impacts using credible water-related data and implemented best practice in improving water stewardship performance. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220817005123/en/ (Graphic: Business Wire) During the WAVE process, Watts prioritized eight of its sites with the highest water risk, identified the watersheds in which it operates, conducted a water balance to learn more about its water inputs and outputs, and engaged the community around its selected sites. As a result, Watts took a variety of actions at the local and global level to reduce water
Blockchain protocol for metaverses, Meta0, to launch at Gamescom17.8.2022 15:16:00 CEST | Press release
Meta0, a new blockchain startup that connects metaverses and blockchain ecosystems through a Layer 0 protocol, will officially launch at Gamescom in Cologne, Germany. Meta0's website is now live at www.meta0.org. Meta0 provides the tools game developers need to easily reach players on every blockchain while also spending less time, money, and personnel on the development process itself. As a one-stop shop for game developers, they remove the technical complexities of blockchain integration by providing intuitive API and SDK-based solutions that offer cross-chain support. "With our technology, there won't be any 'blockchain wars' like there were with consoles," said Inal Kardanov, Chief Technology Officer of Meta0. "This means players get the best game possible, while developers and publishers reach as many gamers as possible regardless of preferred blockchain." In its current state, blockchain games are highly dependent on the individual chains they are built on. Meta0 will change that
CORRECTING and REPLACING: Pharmasimple Announces Its Decision to Acquire an Equity Stake in Phytocann Group17.8.2022 15:14:00 CEST | Press release
Headline of release dated August 16, 2022, should read: Pharmasimple Announces Its Decision to Acquire an Equity Stake in Phytocann Group (instead of Phytocann Group announces its acquisition of a stake in Pharmasimple). Also, first sentence of second paragraph should read: Pharmasimple is delighted to acquire a 5% equity stake in Phytocann Group for the sum of 5 million euros (instead of Phytocann Group is delighted to acquire a 5% stake in Pharmasimple for the sum of 5 million euros). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220809005631/en/ The updated release reads: PHARMASIMPLE ANNOUNCES ITS DECISION TO ACQUIRE AN EQUITY STAKE IN PHYTOCANN GROUP Phytocann Group, a vertically integrated company and European CBD pioneer, is proud to announce a partnership with Pharmasimple, a company listed on Euronext Growth Paris and industry leader in Belgium. This strategic rapprochement opens up a new era for the distribution o
Bacardi Limited Welcomes Consumer Goods Executive Dave Ingram to Lead Operations17.8.2022 15:00:00 CEST | Press release
Bacardi Limited, the world’s largest privately held spirits company, today announces the appointment of Dave Ingram as Chief Supply Chain Officer. Dave brings 30 years of supply chain and strategic sourcing experience to Bacardi where he will lead the end-to-end supply chain experience -- from achieving our goal of sustainably sourcing key ingredients, to leading operations sites across the globe, to managing a robust supply chain track that brings products to shelves and consumers’ hands. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220817005218/en/ Bacardi Limited announces the appointment of Dave Ingram as Chief Supply Chain Officer (Photo: Business Wire) Dave will report to Chief Executive Officer Mahesh Madhavan and joins the company’s Global Leadership Team effective September 1, 2022. He will be based in Geneva, Switzerland. This appointment follows the retirement of Jean-Marc Lambert after more than 20 years with t
Prosimo Delivers Industry First Full-Stack NetDevOps Toolkit for Multi-Cloud Networking17.8.2022 15:00:00 CEST | Press release
Prosimo, the Application Experience Infrastructure company, introduced a new NetDevOps Infrastructure-as-Code (IaC) Toolkit that enables enterprises to accelerate the deployment of cloud networking. Deployed by F500 companies and large enterprises, the Prosimo Full-Stack Cloud Transit with the new IaC Toolkit provides complete orchestration of cloud networking services required to connect, scale, and secure enterprise applications with complete visibility across a multi-cloud infrastructure, which reduces the network delivery lifecycle and adds implicit zero-trust while delivering compelling autonomous networking capabilities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220817005147/en/ Multicloud transit with Terraform: https://learn.prosimo.io/youtube-all-videos/multicloud-transit-with-terraform-2 (Graphic: Prosimo) Learn more: Prosimo IaC toolkit video "According to ESG's Distributed Cloud research, organizations are a