As reported by Trade Economics, the consumer confidence indicator in the Euro Area increased to 0.1 in November 2017 from a downwardly revised -1.1 in the previous month, beating market expectations of -0.8. According to a recent article by the Wall Street Journal, the steady rise in confidence over the last 12 months has been driven by greater optimism about the outlook for the eurozone economy, which has experienced a tumultuous decade as first the global financial crisis and then the currency area’s debt troubles caused two periods of contraction.
What does this mean for US brands looking to tap into the region's buying power, that includes four of the top ten consumer markets in the world? One word - opportunity. As eCommerce surges in developed economies and boarders become more blurred, companies who view the world as a cohesive global marketplace will reap the benefits of strategically planning expansion into areas like the EU. Those who continue to view international markets as "unreachable" or "non-strategic" are destined to be left behind.
Consumer Confidence in the Euro Area averaged -12.08 from 1985 until 2017, reaching an all time high of 2.20 in May of 2000 and a record low of -34.60 in March of 2009.