RECESSION FORCED EASTERN EUROPEAN SMOKERS TO DITCH PREMIUM BRANDS FOR CHEAPER SMOKES
November 1st, 2010
BY MARK ROWE
Recession forced eastern European smokers to ditch premium brands for cheaper smokes
Tobacco majors have long targeted eastern Europe as a soft emerging market for premium brands. But times got tough during the recession, when smokers swapped aspiration for economy. Now with the recovery, there is a mixed picture of increasing premium and economy sales.
IN times of recession, consumers tend to head for the lower ground - cheaper products that offer 'value' at the expense of luxury or premium branded goods. The tobacco market is no different and ...
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