Increasing Prices Situation: Products that will suffer the most in 2017
With the skyrocketing price increases in Egypt today, consumers are bound to cut their expenditure, regardless of their social economic class. This decrease in consumer expenditure is inevitable, especially among the most consumed and easily measured categories, food and beverages.
Marketeers Research asked a sample of 120 millennial married women about their change in spending behaviors. With the current price increases, which product categories did they decrease their expenditure?Source: Marketeers Research
Based on the results, we ranked the list on a spectrum from the most to least categories affected by price increases, and divided them under panic alert, warning, and watch out based on their urgency for price management.
For brand managers, an opportunity takes place.
Now the pie (market size) is getting smaller, so brands will start fighting to take the larger portion (market shares) of the new smaller pie. Hence, whoever can figure out the right strategy in optimizingtheir offers, will be the winner. And thats where the opportunity lies.
Smart Shopper™ answers the business issue for most industries in Egypt today, by creating strategies for optimizing your brand’s offer to improve your market position, while minimizing any loss during the era of economic pressure.
Request more information about Smart Shopper – Get in touch with Marketeers Research