Emerging markets will continue to present the highest growth opportunities for consumer products companies in 2012
Product innovation, combined with effective pricing strategies, will be key areas of focus for companies in 2012 and beyond
NEW YORK, March 29, 2012 /PRNewswire-Asia/ -- The 250 largest consumer products companies grew 8.4 percent in FY2010, nearly a 10 percentage point turnaround from the prior year's 1.2 percent decline, according to a new report by Deloitte Touche Tohmatsu Limited, Global powers of the consumer products industry.
According to the report, the top 250 generated combined sales of more than $2.82 trillion in FY2010, a significant increase over FY2009, when sales totalled $2.57 trillion. Latin America led the regions in top-line sales growth with 22.2 percent, followed by North America, which experienced a rebound in composite sales, growing nearly 11 percent in FY2010 from 3.2 percent in FY2009.
Dr. Ira Kalish, Director of Consumer Business for Deloitte Research in the United States* said, "Fiscal 2010 was a strong year for consumer products companies despite the continued volatility in the markets due to the Eurozone debt crisis, continued troubles in the U.S. housing market, and the slowdown in China. One positive effect of slower global growth for consumer products companies will be the continued dampening of commodity prices. Moreover, in many of the slowing markets, a disproportionate share of the growth of consumer income is accruing to the relatively affluent. Hence, for companies targeting upscale consumers, the environment might not be so bad. For those targeting everyone else, the ability to offer low prices to uncertain consumers will be a clear competitive advantage."
* Deloitte Research in the United States is part of Deloitte Services L.P.
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