According to Finding the New Normal, a consumer packaged goods report from Symphony IRI, shoppers are expected to remain frugal when purchasing consumer packaged goods in 2013 despite continued signs of economic recovery and strengthening. Though GDP growth and the Consumer Index are expected to remain steady at 4.1 and 2.1 percent, respectively, an expected drop in the unemployment rate from 8.1 percent in 2012 to 7.7 percent in 2013 will provide signs of economic growth.
Symphony IRI also expects consumers to continue to reduce the number of channels they visit. Three percent more consumers shopped at fewer than five channels from Q1 to Q4 2012, a trend Symphony attributes to consumers limiting themselves to channels offering the best value. Consumer focus on value has been reinforced by negative news about federal budget deficits and the costs of implementing the Affordable Care Act, Symphony says.