CHICAGO, July 21 (Bernama-BUSINESS WIRE) — NielsenIQ previews findings from the Brand Balancing Act, a global study providing a perspective on how consumers perceive small and medium-sized brands in the new inflationary marketplace. Amid supply chain challenges, inflationary pressures, and cautious consumer spending intentions, small brands face a challenging playing field. By focusing on consumer brand preferences, performance benchmarking, trend-cycle timing, and meaningful differentiation, small and medium brands can leverage consumer responses of the volatile economy to their benefit.
“Inflation has supercharged the importance of every investment and strategic effort made by smaller brands. As the cost of products rises, so does the cost of missing the mark with consumers’ expectations,” says Lauren Fernandes, Global Director of Thought Leadership. “The good news for small & medium-sized businesses is that despite many SMBs being largely ‘unfamiliar’ in terms of notoriety according to our recent study, consumers are considering a wider variety of brands when deciding what to buy.”