THE MIDDLE
C L A S S : S TAT E
OF MIND OR
SHARE OF
WA L L E T ?
SPENDING FLEXIBILIT Y IN IREL AND
IN INFL ATIONARY TIMES
OCTOBER 2013
SPENDING
FLEXIBILIT Y
IN IREL AND
DURING
INFL ATIONARY
TIMES
IRELAND
• Income alone does not dictate spending considerations, spending flexibility is key too
• 61% of Irish respondents claim they only had enough to spend on essentials the past year
• Two thirds of Irish respondents (66%) indicate they cannot afford a rise in food prices without making difficult choices elsewhere
• Alcohol, Confectionery and Soft Drinks spending likely most hit by any rising food prices
• 47% say they will shop more at Discount stores in times of rising prices
• Convenience channels and local stores are most vulnerable in times of rising prices
• 47% say they will shop more Private Label if food prices increase, versus 11% say they will shop more brands
• On a more positive note, however, 56% of Irish consumers will consider experimenting with new brands
2
ABOUT THE NIELSEN
GLOBAL SURVEY OF
INFLATION 2013
The expanding middle class meets
rising food prices. The convergence
of these two mega trends is set to
dramatically and permanently reshape
the consumer landscape. With the
global middle class growing by 70 million each year, and food prices
expected to more than double within
20 years, the world is entering into
an unprecedented period of rising
demand, economic pressures and
inspirationally-driven buying behavior.
However focusing solely on the
middle class, which is often defined
by income parameters that are either
too high or too low for universal
acceptance, is unlikely to fulfill
economic growth expectations for
business. New findings from Nielsen
reveal that differences in buying
intentions for food products with
regard to what we buy, where we shop,
and our perceived spending flexibility
is driven more by aspirations and
cultural norms than by income.
The Nielsen Global Survey of Inflation
Impact polled more than 29,000
Internet respondents in 58 countries
to understand how respondents
around the world of all income ranges
were coping with rising food prices.
The study identifies the countries,
categories and retail channels that
were more insulated to weather hard
economic times and those which
were more vulnerable. Tactics and
strategies are necessary to reach
consumers across the world in these
demanding and changing times.
RISING PRICES ARTICLE - IRELAND
RISING PRICES
CAN AFFECT
THE CONSUMER
LANDSCAPE
Innovation is vital to sustaining profitability and building a strong
platform for growth. Tactics that align with how consumers think,
plan and shop is vital for success. In Europe, consumers have less
discretionary income and we see that price inflation may be driving
shoppers from local stores to discount stores and supermarkets, so understanding pricing and promotional scenarios are important. In Ireland, the survey revealed that if food prices were to rise, Irish
consumers say they would increase price hunting in-store, take
advantage of deals by stocking up, reduce number of shopping trips
and amount spent per trip, plus shop more in discount stores and
look for deals online.
INCOME IS
RELATIVE WHEN
IT COMES TO
MEASURING
BUYING POWER
When evaluating the impact of inflation among respondent
households that earned incomes reflective of middle-class income
parameters*, Nielsen found that in times of rising food prices,
no single group is immune from the pain. The buying sentiment
for both discretionary and non-discretionary food and beverage
categories among “middle-class” households compared with all other
households, on average, was not dramatically different.
47% OF IRISH
RESPONDENTS
SAY THEY WOULD
SHOP MORE
AT DISCOUNT
STORES IN
TIMES OF RISING
PRICES
In other words, a closer look at buying propensity by standards other
than income was necessary to better measure financial stability. The
Nielsen survey revealed that the notion of spending was relative
to many factors, which include household composition, spending
flexibility and opportunities, aspirations and cultural diversity.
*as defined by the Organization for Economic Co-operation and Development [OECD]
Copyright © 2013 The Nielsen Company
3
SPENDING
FLEXIBILITY IS
IMPORTANT
A key measure of buying power is spending flexibility, or the elasticity
in the household budget to afford a rise in food prices without having
to make difficult spending choices elsewhere. In the survey, Nielsen
segmented respondents into three spending capacities;
• THOSE THAT HAD ENOUGH MONEY TO SPEND FREELY
• LIVE COMFORTABLY
• OR JUST HAD ENOUGH MONEY FOR SHELTER, FOOD AND BASICS For Ireland, the effects of the tough recession are reflected in the
survey results, as the majority of Irish respondents report only having
enough money for the essentials. 61 percent indicate, in the past year,
they have only had enough money for shelter, food and basics (versus
global average of 44%, Europe average of 52%). Just under one third
of Irish respondents (31%) say in the past year they were able to live
comfortably and bought some things just because they liked them. Only 9 percent say they were able to spend freely (versus a global
average of 14% and a Europe average of 11%) indicating the Irish
household budget is still under pressure. SPENDING FLEXIBILIT Y?
Q: PLEASE SELECT THE ONE OPTION THAT BEST REFLECTS
YOUR VIEW ON YOUR SPENDING …
5%
11%
EU
37% AVERAGE 52%
32%
FRANCE 63%
26%
GERMANY
9%
12%
15%
59%
39%
GB
49%
31%
IRELAND
61%
In the past year I’ve only had enough money for shelter, food and basics
In the past year I’ve been able to live comfortably, and bought some things just because I liked them
In the last year I’ve been able to spend freely
Source: Nielsen Global Consumer Confidence Topic - Ireland Q1 2013
4
RISING PRICES ARTICLE - IRELAND
ELASTICITY IN
THE HOUSEHOLD
BUDGET
9 of the top 10 global countries in the Nielsen survey with the least
spending flexibility actually hailed from Europe, reflecting the recent
EU troubles. More than three-quarters of respondents ‘not able
to afford a rise in prices’ were from Greece (87%), Croatia (82%),
Romania (81%), Hungary (77%), Ukraine (77%) and Bulgaria (77%)
while two thirds of Irish respondents (66%) indicate they cannot afford a rise in food prices without making difficult choices elsewhere
(ranking 18 out of 58 countries surveyed).
FLEXIBILIT Y IN THE BUDGET?
Q: IS THERE ENOUGH FLEXIBILIT Y IN YOUR HOUSEHOLD BUDGET
TO AFFORD A RISE IN FOOD PRICES WITHOUT MAKING DIFFICULT
SPENDING CHOICES ELSEWHERE?
EU AVERAGE
35%
65%
FRANCE
24%
34%
76%
GERMANY
IRELAND
43%
66%
57%
GB
44%
56%
YES
NO
Source: Nielsen Global Consumer Confidence Topic - Ireland Q1 2013
Copyright © 2013 The Nielsen Company
5
HOW DOES RISING
FOOD PRICES
AFFECT THE
SHOPPING BASKET?
When it comes to rising food prices, nearly everyone feels the pain;
85 percent of all global respondents say that higher costs impact their
choice of grocery products. Grocery products are not the only areas of
spending affected. The top ways that Irish respondents would change
spending habits because of increased food prices include snacking
food (59%), new clothes and accessories (59%), dining out (57%),
beverages at home (42%), travel/vacation (33%), paying for recreation
and entertainment (32%).
CUTTING TACTICS IF FOOD PRICES RISE
Q: IF FOOD PRICES RISE, PLEASE IDENTIFY THE TOP 5 AREAS WHERE
YOU WOULD CHANGE YOUR SPENDING … - IREL AND RESULTS
59%
59%
SNACKING FOOD
NEW CLOTHES AND ACCESSORIES FOR SELF
57%
DINING OUT (RESTAURANTS, PUBS, ETC.)
42%
BEVERAGES AT HOME
33%
TRAVEL/VACATION
RECREATION AND ENTERTAINMENT ( CONCERTS,
MOVIES, SPORTS, ETC.)
32%
28%
25%
COMMUNICATIONS SERVICES (MOBILE PHONE,
LANDLINE, INTERNET, CABLE TV, ETC.)
HOME IMPROVEMENT AND DECORATING
MAIN MEAL FOOD AT HOME
23%
SAVINGS/INVESTMENTS
23%
22%
21%
COSMETICS AND TOILETRIES
ELECTRONICS/APPLIANCES
ROUTINE TRANSPORTATION (CAR, GAS,
COMMUTING, NON-VACATION, ETC.)
PAY DOWN DEBT
HOUSING (RENT, MORTGAGE, UTILITIES, ETC.)
MEDICAL (DOCTOR/DENTIST VISITS, MEDICINES, VITAMINS)
NEW CLOTHES AND ACCESSORIES FOR CHILDREN
OTHER
EDUCATION
CHILD CARE
20%
14%
13%
10%
9%
5%
4%
2%
Source: Nielsen Global Consumer Confidence Topic - Ireland Q1 2013
6
RISING PRICES ARTICLE - IRELAND
VULNERABLE
CATEGORIES
DURING
INFLATIONARY
TIMES
Just as Irish consumers are now shopping around, they will also make
trade-offs. For manufacturers and retailers alike, determining which
categories have staying power and which ones are more vulnerable
is critical as tough in-store decisions are made. While buying more
of anything is a challenge when wallets are tight, there are categories
that are likely to be hardest hit when it comes to reacting to rising
food prices, and others that show resilience to inflation.
Categories most vulnerable during inflationary times, and the
ones that at least half of Irish respondents say they would buy
less frequently were; alcohol, convenience food, soft drinks and
confectionery. Three quarters say, on making decisions around buying
product categories, if food prices increased, they would be likely to
buy less sweets & chocolate (73%), while two thirds indicated less
purchasing on crisps/snack foods (67%), food-on-the-go (62%), and
for alcohol and carbonated drinks, 58% and 57% respectively.
RESILIENT
CATEGORIES
DURING
INFLATIONARY
TIMES
The more resilient categories for Ireland, where more than half of
respondents had no plans to change their shopping routine, were
for the staple categories like; dairy products (78%), fresh fruit & veg
(64%), meat and poultry (67%), bread and bakery goods (68%),
packaged foods (68%) and fish and seafood (58%). Copyright © 2013 The Nielsen Company
7
However interestingly, 12 percent of respondents also indicate they
would buy more fresh or frozen fruits and vegetables if food prices
increased. Plus canned fruits and vegetables and packaged foods (eg coffee, pasta etc) were also stock-up essentials among 7 percent
and 8 percent of all respondents, respectively.
CATEGORY DECISIONS
Q: IF FOOD PRICES INCREASE, WHAT CHANGES WILL YOU MAKE
WHEN BUYING THE FOLLOWING PRODUCT CATEGORIES?
45
57
67
62
78
48
BREAD & BAKERY
CANNED FRUITS & VEG
2
4
2
NOT APPLICABLE
17
4
6
3
BUY LESS
25
16
26
22
50
64
BUY SAME
5
5
9
73
68
28
12
22
55
65
67
FOOD ON THE GO
7
CRISPS & OTHER SNACK FOODS
4
22
CONVENIENCE/PREPARED FOODS
3
26
CARBONATED BEVERAGES
3
BOTTLED WATER
25
19
58
FISH & SEAFOOD
31
ALCOHOLIC BEVERAGES
20
51
DAIRY (MILK, CHEESE, YOGHURT, ETC.)
68
19
28
31
58
8
18
5
8
5
16
2
SWEETS & CHOCOLATE
16
PREPARED MEALS
9
PACKAGED FOODS
(COFFEE, PASTA, ETC.)
19
PACKED CEREAL PRODUCTS
(BREAKFAST CEREALS)
26
16
ORGANIC PRODUCTS
14
MEAT & POULTRY
21
FRESH OR FROZEN FRUITS & VEG
19
BUY MORE
Source: Nielsen Global Consumer Confidence Topic - Ireland Q1 2013
8
RISING PRICES ARTICLE - IRELAND
SO ARE
GROCERY PRICES
INCREASING IN
IRELAND?
In looking at the top selling 20 categories in Ireland (alcohol and
tobacco excluded) in latest Nielsen retail sales data, it appears over
the long-term and short-term this is the case;
LATEST 4 WEEKS
PRICES UP
LATEST 12 WEEKS
PRICES UP
LATEST 52 WEEKS
PRICES UP
+1.9%
+2.5%
+2.5%
WITH 15 OF THE 20
CATEGORIES RECORDING A
PRICE INCREASE
WITH 16 OF THE 20
CATEGORIES RECORDING A
PRICE INCREASE
WITH 17 OF THE 20
CATEGORIES RECORDING
PRICE INCREASE
Source: Nielsen Scantrack data, w/e 8th September 2013
On the latest 12 weeks, staples like breakfast cereals, packaged bread
and milk prices are up higher than the overall average (+6.5%, +3.9%
and +5.0% respectively), while pre-packed bacon and take home ice-cream are the only categories in the Top 20 which have not seen
the average price increase over these time periods. ₂ Copyright © 2013 The Nielsen Company
9
PRICE FLUCTUATIONS
LATEST 4 WKS
LATEST 12 WKS
LATEST 52 WKS
BABYMILKS / MEALS AND RUSKS
8.7%
8.3%
11.2%
BISCUITS CRACKERS CRISPBREAD
3.5%
4.6%
5.2%
BREAKFAST CEREALS
5.2%
6.5%
7.7%
CARBONATED DRINKS
2.7%
1.0%
2.9%
CELLOPHANE BAGS
3.9%
4.3%
3.9%
COUNTLINES
5.5%
4.3%
5.2%
CRISPS
3.4%
3.1%
-8.4%
6.2%
ENERGY DRINKS
-4.1%
FRUIT JUICES 500ML +
7.4%
5.3%
6.7%
MILK
1.8%
PACKAGED BREAD
4.3%
3.9%
3.1%
PREPACKED SAUSAGES
5.9%
6.8%
6.3%
SNACKS
3.4%
4.3%
MARGARINE
5.5%
2.9%
0.6%
-0.6%
4.1%
5.0%
6.8%
TOILET TISSUE
0.1%
0.4%
0.2%
0.1%
0.0%
-0.7%
-0.5%
-2.3%
-0.2%
-5.1%
-3.9%
-0.6%
-1.1%
MINERAL WATER
0.6%
2.1%
PREPACKED BACON
PREPACKED SLICED MEAT
0.6%
TAKE HOME ICE CREAM
YOGURT & YOGURT DRINKS
3.7%
1.4%
TOTAL TOP 20 CATEGORIES
1.9%
2.5%
2.8%
Source: Nielsen Ireland Scantrack data, w/e 8th Sept 2013
10
RISING PRICES ARTICLE - IRELAND
RETAILERS POISED
FOR SUCCESS –
BEST BET RETAILERS
IRELAND RANKS
With finances under pressure and less discretionary money to spend,
consumers continually look for ways to stretch their budgets and find the
best value for the money. Retailers poised for success during inflationary
times are those with competitive prices often difficult to beat.
THIRD HIGHEST
Many Irish respondents indicate they will continue to shop at
Supermarkets and Pharmacy, with 35 percent indicating they would
increase shopping frequency at Supermarkets. However, a high 47 percent
of Irish respondents say they would shop more at Discount stores in
times of rising prices. Ireland currently sees strong and continuous
advertising by the main Discounters, which will only help increase
awareness of these retailers and their keenly priced offers.
14%
9%
50%
55%
WOULD SHOP
MORE AT DISCOUNT
STORES, ONLY
(48%) AND SOUTH
Q: IF FOOD PRICES INCREASE WHAT CHANGES
WILL YOU MAKE IN WHERE YOU PURCHASE FOOD
PRODUCTS? – IREL AND RESULTS
10%
SAYING THEY
BEHIND SINGAPORE
STORE SWITCHING IF FOOD PRICES INCREASE
14%
GLOBALLY IN
KOREA (47%).
12%
8%
23%
48%
30%
NOT APPLICABLE
SHOP LESS
SHOP SAME
60%
35%
29%
47%
5%
SUPERMARKETS
CONVENIENCE
STORES
5%
DISCOUNT
STORES
PHARMACY
SHOP MORE
33%
12%
LOCAL
NEIGHBOURHOOD
STORES
Source: Nielsen Global Consumer Confidence Topic - Ireland Q1 2013
Copyright © 2013 The Nielsen Company
11
Conversely, retailer formats most vulnerable during inflationary
times include convenience stores and speciality retailers. 55 percent
and 48 percent of all Irish respondents, respectively, say they would
shop at these retailers less often. Ireland results on these scores
show vulnerability versus a lot of other countries (versus 40% and
27% global averages). Channel switching from convenience and local
shops to low-price outlets/supermarkets is evident, so messaging for
these retailers that focuses on trust, differentiation and good value is
important.
BRANDS VERSUS
PRIVATE LABEL
IN INFLATIONARY
TIMES
Some good news is that the majority of Irish respondents report being
willing to try new brands. When asked ‘thinking about food brands
to buy over the next year’, 56 percent indicate they would experiment
with new brands. Notably, Ireland ranks 5th highest globally on this
score, behind Brazil (64%), Greece (61%), Philippines (60%) and
South Africa (57 %). This indicates opportunity for new areas of
growth and innovative NPD from brands.
STRONG BRAND MESSAGES AND NPD IMPORTANT
Q. THINKING ABOUT THE FOOD BRANDS YOU BUY OVER THE
NEXT YEAR ‘I EXPECT TO‘… IREL AND
56%
INDICATE WILLINESS
TO EXPERIMENT WITH
NEW BRANDS
63% LIKE WHEN MANUFACTURERS OFFER NEW PRODUCTS
60% WAIT UNTIL A NEW INNOVATION IS PROVEN
60% BUY NEW PRODUCTS FROM FAMILIAR BRANDS
59% LIKE TO TELL OTHERS ABOUT NEW PRODUCTS
CONSUMERS WILL RESPOND TO STRONG
NPD ADVERTISING / PROMOTIONS
Source: Nielsen Global Consumer Confidence Topic Ireland Q1 2013
12
Source: Nielsen Global Consumer Confidence New Products - Ireland Q3 2012
RISING PRICES ARTICLE - IRELAND
However on the flip side, as shoppers increasingly look for value,
private-label brands have a potential advantage as shoppers become
more discerning and lower-priced alternatives proliferate. In regions
where private label is well established, the Nielsen survey results
showed the potential power of private label brands during inflationary
times.
In developed European countries, 35 percent would shop more for
private-label brands, compared with only 8 percent saying that they
would buy more national brands. For Ireland that number was higher
at 47 percent saying they would buy more private label if food prices
increased, compared with only 11 percent saying they would buy more
national brands.
47%
Copyright © 2013 The Nielsen Company
SAYING THEY WOULD BUY
MORE PRIVATE LABEL IF FOOD
PRICES INCREASED, COMPARED
WITH ONLY 11 PERCENT SAYING
THEY WOULD BUY MORE
NATIONAL BRANDS.
13
BRANDS VS. PRIVATE LABEL
Q: IF FOOD PRICES INCREASE, WHAT CHANGES WILL YOU MAKE IN THE T YPE
OF FOOD PRODUCTS YOU PURCHASE? – IREL AND RESULTS
47%
35%
11%
39%
13%
46%
6%
5%
PRIVATE
LABEL
BRANDS
NOT APPLICABLE
SHOP LESS
SHOP SAME
SHOP MORE
Source: Nielsen Global Consumer Confidence Topic - Ireland Q1 2013
Today in Ireland, private-label products account for roughly 22
percent of FMCG sales (worth €2.3billion), according to Nielsen’s
latest figures₁. Conditions remain good for private label growth, and
private-label brands have been shouting loud with strong advertising.
The price must be right and marketing must be effective for privatelabel brands to be successful. Packaging impacts trust and quality
perceptions especially when private labels extend beyond commodity
or low-risk product categories.
Sales of private label in Ireland are reaping rewards, reporting year on
year growth of +2% (value) latest year to June 2013, (versus -0.8% for
Branded), according to latest Nielsen data₁.
14
RISING PRICES ARTICLE - IRELAND
PRIVATE LABEL IN NUMBERS
THE MAT VALUE SALES OF PRIVATE LABEL = €2.3 BILLION
THE RATE OF VALUE GROWTH OF PRIVATE LABEL
YEAR ON YEAR = +2%
THE VALUE SHARE PRIVATE LABEL CURRENTLY HAS IN
TOTAL MARKET = 22%
BRANDED PRODUCTS
WORTH €8.3 BILLION
BRANDED DECLINING AT
-1.2% VALUE YEAR ON YEAR
BRANDED NOW
PLAYING IN A 78% ARENA
Source: Nielsen Strategic Planner Data to June 2013
NIELSEN RESEARCH SHOWS THAT IRISH SHOPPERS SEE OWN BRAND
AS BEING OF SIMILAR QUALITY AND A VIABLE ALTERNATIVE TO
BRANDS. SWITCHING TO OWN BRAND IS ONE OF THE MAIN WAYS THAT
CASH STRAPPED SHOPPERS IDENTIFY TO SAVE MONEY. IN RECENT
YEARS CONSUMERS HAVE INCREASED THE NUMBER OF STORES THEY
VISIT EACH WEEK, AND THERE ARE CLEAR INDICATIONS THAT THEY
HAVE ADDED A DISCOUNTER STORE TO THEIR SHOPPING ROUTINE.
AS SHOPPERS HAVE BEEN FORCED TO FIND VALUE TO STRETCH THEIR
BUDGET, THEY HAVE MOVED TO BUYING MORE AND MORE FROM LIDL
AND ALDI OR BY SWITCHING INTO PRIVATE LABEL ALTERNATIVES.
MANY IRISH SHOPPERS HAVE SWITCHED THEIR MAIN SHOP TO
A DISCOUNTERS AND THEN TOP-UP IN THE MORE TRADITIONAL
MULTIPLES, A REVERSE OF THE COMMONLY ACCEPTED NORM.
SHANE DALY, RETAILER SERVICES, NIELSEN IRELAND
Copyright © 2013 The Nielsen Company
15
TACTICS TO
DEPLOY AND
MARKETING
LEVERS TO PULL
Certain strategy responses from consumers resonate with strong
consistency around the world, such as the increased propensity to
purchase only sale-priced items (42 percent for Ireland). 61 percent of
Irish respondents also say they would stock up on regular-use items
when they were on sale (compared with 41 percent global average
and 48 percent Europe average). Purchasing larger pack sizes was
a strategy favoured among 40 percent of Irish respondents (again
trending higher than either global or European averages (28% and
29% respectively). Notably, the speed and efficiency of online methods proved to be the
platform of choice for saving money among two-fifths (41%) of Irish
respondents, while over one quarter (28%) use social media to find
specials. With the rise in smartphone ownership and mobile usage,
looking for deals online is only likely to increase in the search for
money-saving deals.
With consumers looking for value online, this does mean retailers
have fewer opportunities to interact. Retailers need to capture
consumers through various mediums, not just in-store, as may see
them less often than they have before.
On those shopping strategies likely to decrease; 67 percent say they
will cut down on amount spent per trip while 57 percent indicate they
would decrease trips to the store.
While the strategic response to consumer buying behavior may be
consistent across regions, market-by-market tactical variations are
essential. Knowing how to scale goods and services across the world
can be challenging when consumer diversity must factor into the
marketing mix. Understanding brand position within the category
demand landscape allows for a tailored food inflation response that
will protect the most profitable shoppers with optimum efficiency.
16
SHOPPER SAVING TACTICS
IF PRICES RISE
Q: IF FOOD PRICES INCREASE,
WHAT CHANGES WILL YOU MAKE
WITH THE FOLLOWING ACTIONS?
67%
WILL DECREASE
SPEND PER TRIP
57%
WILL DECREASE
TRIPS TO THE SHOP
42%
WILL PURCHASE
ONLY SALE ITEMS
41%
WILL LOOK FOR
DEALS ONLINE
40%
WILL PURCHASE
LARGER PACKS
28%
WILL USE SOCIAL
MEDIA TO FIND
DEALS
20%
WILL SHOP MORE
ONLINE
RISING PRICES ARTICLE - IRELAND
ABOUT THE NIELSEN GLOBAL SURVEY
The Nielsen Global Survey of Inflation Impact was conducted
between February 18 and March 8, 2013, and polled more than 29,000
consumers in 58 countries throughout Asia-Pacific, Europe, Latin
America, the Middle East, Africa and North America. The sample has
quotas based on age and sex for each country based on their Internet
users, and is weighted to be representative of Internet consumers
and has a maximum margin of error of ±0.6%. This Nielsen survey is
based on the behavior of respondents with online access only. Internet
penetration rates vary by country. Nielsen uses a minimum reporting
standard of 60 percent Internet penetration or 10M online population
for survey inclusion. The Nielsen Global Survey, which includes the
Global Consumer Confidence Survey, was established in 2005.
ABOUT THE GLOBAL SURVEY METHODOLOGY
The findings in this survey are based on respondents with online
access across 58 countries. While an online survey methodology allows
for tremendous scale and global reach, it provides a perspective only
on the habits of existing Internet users, not total populations. In
developing markets where online penetration has not reached majority
potential, audiences may be younger and more affluent than the general
population of that country. Additionally, survey responses are based on
claimed behavior, rather than actual metered data.
ABOUT NIELSEN
Nielsen Holdings N.V. (NYSE: NLSN) is a global information and
measurement company with leading market positions in marketing
and consumer information, television and other media measurement,
online intelligence and mobile measurement. Nielsen has a presence
in approximately 100 countries, with headquarters in New York, USA
and Diemen, the Netherlands.
For more information, visit www.nielsen.com.
Copyright © 2013 The Nielsen Company. All rights reserved. Nielsen
and the Nielsen logo are trademarks or registered trademarks of
CZT/ACN Trademarks, L.L.C. Other product and service names are
trademarks or registered trademarks of their respective companies.
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