Starting 2017, we started publishing a series of consumer behavior insights to ring a bell for Egyptian brand managers, regarding the urgency of managing today’s increasing prices.
In our first campaign, we ranked the food and beverage categories, which will be negatively affected due to Egypt’s skyrocketing price increases. Then, we wanted to know whether consumers will buy less quantity, or lower tier of certain product categories.
Today, we are supporting the statistics derived earlier by publishing a video of household decision makers from A/B and C1 social economic classes, telling us how their household spending behaviors are now changing with the increasing prices.
Consumer Reactions to Increasing Prices
Changes in consumer behaviors are calling out for all industries, not just the Fast Moving Consumer Goods (FMCGs), to start taking strategic actions if they haven’t started already.
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, all brand managers now are put under a great challenge: whoever can figure out the right strategy in optimizing their offers, before other competitors do, will be the winner.
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.
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