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Article: Balancing act: even leading food and beverage companies had to work to maintain equilibrium during a turbulent 2008.(TOP 100 PACKAGERS: INTRODUCTION & METHODOLOGY)(Statistical table)
- Article from:
- Food & Beverage Packaging
- Article date:
- June 1, 2009
- Author:
CopyrightCOPYRIGHT 2009 BNP Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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If you've heard it once, you've probably heard it a dozen times: Food and beverage products are recession-resistant because, even in bad times, people have to eat and drink.
That's true, up to a point ... the point when it's not true anymore, like at the tail end of 2008 and into 2009.
With unemployment so high, credit so tight and uncertainty about the future so certain, consumers closed their wallets and re-evaluated all their needs and wants. Value for the money became paramount for every product. Brands that successfully communicated this did well, regardless of their price. The ones that didn't, well ... some are just down and some are flat-out out. ...