From The Economist
Published: October 15, 2010
"WE WON'T let up," insisted Bob McDonald, the boss of Procter & Gamble (P&G) at the annual shareholder meeting of the world's biggest consumer-goods company on October 12th. He promised that P&G was still on track to have 5 billion customers by 2015. But it is a struggle for the maker of Pampers nappies and Fairy washing-up liquid. "Many of the economies in which we operate are still recovering from recession," Mr McDonald admits.
P&G and its archrival Unilever, another global consumer-goods firm, had a grim time last year: profits plummeted. This year has been only slightly better. Economies are still ailing, and the cost of raw materials is climbing.
But there is something else happening. Basic consumer goods were long assumed to be more or less recession-proof. Shoppers may not be able to afford Dior dresses or Cartier watches, went the argument, but they still need loo paper and detergent. Yet people are finding ways to save money even on daily necessities.
They are shopping less and with more purpose. Some people deliberately pick up a basket rather than collect a trolley in supermarkets, to prevent themselves from buying too much. Some buy smaller packets, which are cheaper, or huge ones, which are better value. Many make do without air fresheners, hair conditioner and other fripperies once deemed essential.
Many scour the internet for special deals. According to a report by PwC, a consultancy, 93% of shoppers say they have changed their behaviour as a result of the economic downturn.
Many have traded down from name-brand to store-brand products. Alarmingly for, say, Kellogg's or Heinz, many have discovered that Tesco's cornflakes and Wal-Mart's baked beans taste no worse. A survey of 2,500 American households by Consumer Edge Research found that supermarkets' own labels have become increasingly popular, especially for staples such as milk, peanut butter, bottled water and cooking oil. Trading down is most common among households with an income of more than $100,000 a year. (Poorer people bought fewer posh brands in the first place.) Store-brand goods are especially popular in Spain, the Netherlands and Germany (see chart).
Consumers are also trading down from one name-brand to another: for example, from Lindt chocolates to Cadbury's. Some 18% of packaged-goods buyers switched from a premium brand to a cheaper one during the recession, according to McKinsey, another consultancy. Most said they found that the pricier brand "was not worth the money".
Ebbing tide
Terrified consumer-goods firms have cut costs and slashed prices. P&G launched a less expensive "basic" version of its Tide brand of washing powder, but then withdrew it because it was too popular. Many firms are pushing "three for the price of two" deals and the like. Some see opportunities amid the gloom. As people eat out less, Kraft Foods, an American firm, sells more Macaroni & Cheese and other ready-made meals. As hedonists cut back on spas and beauty salons, P&G sells more beauty products that can be applied at home.
Companies with a strong presence in emerging economies have the rosiest prospects. Shoppers in China and Brazil are trading up to foreign brands, making up for some of the new frugality in the West. Mr McDonald tries to sound cheery. In 173 years, P&G has survived many recessions. No doubt, but what if this one teaches consumers that supermarket brands are just as good and, when the economy recovers, they spend their extra cash on holidays or college fees instead?
省錢作戰！93%消費者改變購物習慣
作者：經濟學人 出處：Web Only 2010/10
相關關鍵字：經濟學人
寶僑的老闆Bob McDonald在股東會上承諾，寶僑仍會努力在2015年時讓客戶人數升至50億。這段時間對寶僑來說並不好過，寶僑和主要對手聯合利華去年的表現不佳，營收大幅下滑，今年也僅稍有好轉。經濟仍舊脆弱，原物料的價格卻節節上升。
有些人在超市刻意只拿提籃不拿手推車，免得自己買太多東西；有些買小包裝產品，因為價格較低，有些則買大包裝，因為單價較低；許多人在網路上尋找折扣。研究公司指出，93%的消費者認為自己因為衰退而改變了習慣。
許多人則改用商店的自有品牌。研究公司針對2500個美國家庭進行調查，發現超市的自有品牌越來越受歡迎，尤其是牛奶、瓶裝水、食用油等基本食品。窮人本來就比較少買高級品牌，改用便宜品牌的情況在年收入超過10萬美元的家庭最為普遍。
嚇壞的消費商品企業也開始減低成本並降價。寶僑推出價格較低的「基本」版Tide洗衣粉，後來就撤回這項產品，因為它實在太受喜愛。有些則在一片沮喪中看到了機會，例如，由於民眾減少外食，Kraft Food的即食食品銷售也隨之增加。
在新興市場佔有一席之地的企業前景最為光明。中國和巴西的消費者開始改用較高級的外國品牌，彌補了部分西方興起的節儉風。McDonald表示，寶 僑過去173年來熬過了許多次衰退。確實如此，但如果這次衰退讓消費者發現，超市自有品牌其實也很好用，經濟復甦後改將多出來的錢花在別的地方，該怎麼辨 呢？
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