Girlpower Marketing Hat tip to James G. Needham
One out of every 11 American women owns a business. Including this blog
Making the Most of Food and Beverage Marketing During a Financial Downturn "When facing a financial downturn, many food and beverage companies start looking for ways to cut their budgets. Often, the first thing to go is marketing. Too many companies believe they can survive the difficult times with their current customer base. But unfortunately, it’s indisputable that sales will most certainly decline without marketing to new customers.
When saving money becomes an absolute necessity, you can still make powerful marketing moves for your food and beverage brand if you’re ready to make some changes to your strategy.
Know Where the Money Goes
"During a financial downturn, restaurant spending goes down. During the Great Recession, spending on food consumed away from home dropped 18%, or nearly $47 billion. Even when not facing a recession as severe as in 2007 and 2008, we can still expect to see a decrease in restaurant sales.
"Conversely, grocery spending remained nearly the same during the Great Recession. The reason is simple: consumers typically tend to cook their own food at home when facing an economic downturn. We expect this to remain the case in the coming months.
"Your consumers are still out there but more likely ready to buy those food and beverage brands that can be consumed at home. For example, in 2010 at-home breakfast items became more relevant as consumers avoided more expensive away-from-home options. The focus was on buying fewer prepared meals, and more cooking from scratch. So, continue those marketing activities that will keep your brand top of mind when your customers are visiting the grocery store.". . . Keep reading
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