Expect consumers to tighten their spending amid high gas prices
NEW YORK — Rising gas prices will prompt consumers to be more mindful of their spending habits, according to Nielsen projections.
In the United States, Nielsen noted, households could be paying an extra $52.50 with a 50-cent increase in gas prices, $105 with a $1 increase and $210 if prices jump up $2, prompting consumers to tighten their wallets. This will mirror historic trends, which include increased trip compression, more value-conscious shopping alternatives and increased use of coupons, Nielsen said.
So what does this mean for consumer packaged goods manufacturers and retailers? Nielsen executives Todd Hale, SVP consumer and shopper insights, and Carman Allison, director shopper and industry insights, stressed that CPG manufacturers and retailers should "actively engage their consumers/shoppers. Once again, trip capture will be paramount and there are opportunities for retailers and manufacturers to convert a likely decline in out-of-home eating and entertainment into spending for at-home options," they said.
Newell Rubbermaid appoints Kevin Conroy to board
ATLANTA — The maker behind such brands as Goody and Sharpie has expanded its board of directors to 12 members.
Newell Rubbermaid said it elected Kevin Conroy, Univision Interactive Media president, to its board. Prior to his position at Univision, Conroy worked as AOL’s EVP global products and marketing.
“Kevin is one of the most accomplished global executives in the field of Internet marketing and media,” said Michael Cowhig, board chairman for Newell Rubbermaid. “He brings a dynamic combination of people and technology leadership to our board.”
Bartell emphasizes health, beauty with two-week event
SEATTLE — Bartell Drugs will celebrate health and beauty with a series of events at some of its stores in the Puget Sound area, the metropolitan area around Seattle, the regional retail pharmacy chain said Wednesday.
Bartell’s “Health & Beauty Event” will take place from March 21 through April 3 at stores in King, Pierce and Snohomish counties. The events will include health clinics, free “mini makeover” demonstrations, hair-styling tips and product samples ranging from foods and candies to cosmetics. Through April 8, there also will be mammography screenings at 16 stores, offered in conjunction with Evergreen Hospital Medical Center.
At 10 Bartell stores, free health testing and screenings for such conditions as diabetes, hypertension and osteoporosis will be offered for free or at a discount, while 20 stores will have cosmetologists on hand to give the “mini makeovers” and demonstrate products from Revlon, L’Oréal and Maybelline.