just-food's 2012 Confidence Survey
We asked, you, our international readership for your views on how you believed the year would pan out for your business and for the food sector - and the results made for fascinating reading.
just-food's first industry Confidence Survey came amid the toughest trading conditions for a generation. However, the results showed a level of optimism in the sector about the outlook for 2012. Nevertheless, consumers in many Western markets remain less confident about their own prospects and recent economic data is mixed at best.
just-food's Confidence Survey also included questions on the emerging markets and sustainability. Of the BRIC markets, China gave respondents most cause for optimism. Outside those four countries, markets from Colombia to Vietnam filled others with confidence. And, on the issue of sustainability, alleviating their company's impact on the environment remained a priority for many despite the gloomy economic landscape.
Rod Street, executive vice president for the international consulting group at SymphonyIRI, was the expert analyst on the webinar to discuss the results of just-food's Confidence Survey. He outlines how tough it will be to find growth this year but offers some ways businesses could succeed in 2012.
2011 was a year of commodity cost inflation and the food industry had hoped raw materials prices would fall back this year. However, in some cases, prices remain stubbornly high. The just-food Confidence Survey showed manufacturers remain determined to push through costs but competition between retailers remains intense, which could lead to a wave of consolidation in the sector.
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