Blog: Leonie BarrieHigh spirits defy global downturn

Leonie Barrie | 8 August 2008

They're a cheery bunch, those Dutch. Whether it's the vibrant support of the country's football fans, or the relaxed atmosphere of the country's capital Amsterdam, there is definitely something of the joie de vivre about the Dutch.

They're also apparently pretty relaxed about the global economic downturn. According to research giants Nielsen, the Netherlands is one of the few countries where consumer confidence is on the rise. Over the last six months, consumer confidence has risen by 5%: only the Taiwanese are more optimistic.

Alas, that confidence is in short supply around the world. Nielsen research claims that global consumer confidence has fallen to a record low, with 56% of online consumers believing their country is in a recession.

Alongside New Zealanders and Latvians, it seems the biggest pessimists are in the US. Consumer confidence across the pond is at its lowest level since 1992 and the days of Clinton's refrain: “It's the economy, stupid.”

Non-discount retailers, in particular, are “feeling the pinch”, according to Nielsen. Private-label sales are growing but only as commodity cost rises fuel inflation; volume sales have dipped slightly.

All is not doom and gloom however, says Nielsen. “There are opportunities in a slowing economy to lead the recovery,” the researchers say.

“Category-specific opportunities exist to maximise in-store efforts. For products that are performing strong and showing immunity during a recession, manufacturers and retailers in these industries have the opportunity to increase product exposure even further.

“For products at the other end of the spectrum, companies would be well-advised to target their marketing efforts to shore up performance and maintain traction during tough times.

“Now is the time to plan for recovery.”


BLOG

Trump spares textile machinery in tariff spat

Hundreds of US imports from China will be hit with an additional 25% tariff from next month – but to the relief of the US textile, apparel and footwear industry, most of the equipment used in the dome...

BLOG

Esquel's eco-friendly manufacturing complex

Hong Kong-based Esquel Group, the world's largest woven shirt maker, has been bedding-in operations at a ground-breaking new $313.3m eco-friendly manufacturing complex in southern China....

BLOG

Tariffs back at top of Trump's trade agenda

Tariffs soared back to the top of Trump's trade agenda last week, with the imposition of punitive tariffs on imports of steel and aluminium, and plans to proceed with an additional 25% tariff on impor...

BLOG

Digitalisation goalposts constantly evolving

The debate and discussion around digitalisation continues to top the apparel industry’s agenda – but as Spencer Fung, group CEO of Li & Fung explains, the goalposts are constantly evolving....

just-style homepage



Forgot your password?