Volumes of consumer packaged goods (CPG) in the US fell by one per cent in the week following the recent terrorist attacks but the American consumer remains optimistic, according to a recent survey from Information Resources, Inc.
The company initiated an analysis of consumer response to the terrorist attacks and conducted a survey by sampling its nationwide consumer household panel. In particular the report examines consumer purchasing patterns of household food and non-food products within the consumer packaged goods (CPG) industry.
Based on IRI's initial findings for the week following the events of September 11 compared with the same week in the year 2000 CPG products volume was down 1.0 per cent for food items products and down 4.5 per cent for non-food items.
"These findings show clarity and hope amid speculation that the U.S. economy is in for a setback. While it may be true in some industries, within the CPG industry it appears to be business as usual," said Ed Kuehnle, group president, IRI North America.
During this time period consumers continued to shop, though it clearly was for different categories of products during this uniquely challenging week. CPG shopping concentrated on core-foods, comfort-foods, a few "emergency" stock-ups, and categories unique to the event, including candles.
"We identified some anomalies within CPG categories, but IRI anticipates continued steady buying patterns within this industry," Kuehnle added.