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 
Tim Eales
Director of Strategic Insight 
SymphonyIRIToplineReport
The Quarterly European Barometer 
Third quarter (Q3 2011)
Is economic uncertainty affecting FMCG sales?
 
2
Copyright ©SymphonyIRI Group, 2011. Confidential and Proprietary.
Key Findings
•Confidence levels have decreased acrossEurope –France by the most and in Germanythe least.•Purchasing power is under pressure due toincreasing prices, impacting mainly non foodvolume.•Prices are rising faster than earnings so thismeans ‘Consumer Recession’.•After a pause, promotion activity has started toincrease again in the UK, The Netherlands andSpain.•Own label is growing although National Brandsremain dominant.•Own label operators are starting to use thetrade promotion lever more.
PRICE RISESPURCHASEBASED ON NEEDMANAGE BUDGETS
 
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Copyright ©SymphonyIRI Group, 2011. Confidential and Proprietary.
2.61.10.8 0.80.5
-5.2
1.6
Germany France Netherlands Italy Spain UK Greece
GDP Growth –Q3 2011 -% change vs. previousyear
Source : Eurostat Q3 ’11 -Published 15
th
November 2011
Growth rates of GDP in volume
(based on seasonally adjusted data)
Euro area GDP up by 1.4%
Q2 ’11
of 00

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