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New Nielsen Classification to Debut in Middle East
ACNielsen has announced a new classification system for the Middle East and North Africa region. The Living Standards Measurement (LSM) system will initially be introduced in Saudi Arabia, the UAE, Morocco and Egypt.
The development of the system follows a World Bank study which coined the acronym while exploring possible improvements to household data in government statistics. Nielsen says the new system includes vital information on people's living standards and lifestyles, replacing the current socio-economic classification used for several decades, which is heavily dependent on occupation to determine a person's economic status.
Arun Joshi, the company's regional head for Eastern Europe, Middle East and Africa, comments: 'From a business perspective, the bottom-line is the way customers live and spend their money, not just how wealthy they are.' He adds that the new system will add important new 'shades of grey' to what was previously 'a black-and-white world of haves and have-nots'.
The MR giant is online at www.acnielsen.com .
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