I call it the hollow middle, but Knowledge@Wharton prefers ‘disappearing middle.’ Here’s what, writing in their pages, the CEO of the Cambridge Group, identified as ‘a growth strategy consulting firm that is part of Nielsen,’ has to say about it.
The Great Recession forced consumers to drastically rethink their purchase behaviors and, even though many have regained their financial footing in the five years since the downturn officially ended, those buying patterns have remained.As a result, more and more products are moving toward the ‘value’ or ‘premium’ ends of the spectrum, leaving a middle market that is struggling to remain relevant.
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