Price/value ratio and the brand value of products and retail chains put in the limelight

According to David Calhoun, Nielsen’s president/CEO consumers are getting used to changes caused by the crisis. They worry less and try to accommodate to the new situation. Spending habits changed drastically in the past year: consumers are more cautious and keep a low profile. He expects a further concentration in retail and private labels continue conquering consumers, at the expense of small and “B” brands. In shopping decisions there is going to be a shift of emphasis from price and product selection to price/value ratio and the brand value of products and retail chains. In the CEO’s opinion, market actors should start using sites like Facebook and mobile phones in communicating with consumers. He pointed out that consumers trust other consumers the most, therefore producers need to try making their products the topic of forum discussions on the Internet. Mr Calhoun thinks that those who react to changes slowly will face hard times.