Consumers in Norway have a strong confidence in their county’s economy. As a result of this, Norwegians are actually trading up to premium products instead of shifting towards private label products. Nicklas Nilsson, research analyst at Euromonitor International, states that consumer confidence is so high in Norway that consumers are convinced that their economy won’t be affected by the downturn. Norwegian manufactures have taken advantage of this mindset and are releasing products with multiple benefits.
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