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Unemployment is at the heart of long-term consumer change

Recent Nielsen research looks at how the full impact of COVID-19 has reshaped consumer spending and the changing job market will drive further change as consumers recalibrate their spending habits.

“The global economy, and the behaviours of consumers within it, face escalating levels of change. Though value and volume growth was inevitable for many FMCG categories during lockdown conditions, that growth may not be sustainable as economic challenges overtake health concerns.

Unemployment will be a significant driver of this change. For some consumers, furloughs will turn into unemployment; for others, particularly in developing countries with informal labour markets, reliable employment may remain out of reach for years.”

Read their findings here.

 

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