Dive into the latest trends shaping economic policies and consumer behavior amidst rising inflation. From the shifting priorities of Generation Z to the impact of social media on spending habits, businesses, and policymakers are navigating a dynamic landscape to meet the evolving needs of consumers. Join us as we uncover the key statistics and insights reshaping the economic environment and explore how brands can adapt to stay ahead in this rapidly changing climate. Keep reading to stay informed on the latest marketing trends and insights.
As the cost of living crisis rumbles on in the run-up to Christmas, the question of price has taken on a new sense of significance. While brands agonise over whether to slash prices to tempt cash-strapped customers, the most effective response to the cost crisis may require an added layer of nuance. A good place to start would be to apply the principles of behavioral science.
“What’s interesting with behavioral science is you can make the same price appear more palatable,” says behavioral scientist and founder of the consultancy Astroten, Richard Shotton. READ MORE
Inflation has been an obstacle everyone has dealt with for the past few years. It’s added challenges to doing business and has put stress on supply chains. It’s impacted where consumers spend their money. And it’s also impacted the kind of marketing messages that brands can tell in order to be successful.
Although inflation has been slowing down, it’s still there. According to the Labor Department’s January inflation report, headline inflation was 3.1%—a decrease from January 2023’s 6.4% inflation rate, but inflation all the same. Maxine Gurevich, senior vice president and head of cultural intelligence at Horizon Media, said while Wall Street, C-suites and investors are praising any drop in inflation rates—and are able to parlay lower inflation into larger business benefits—consumers still seem stuck. READ MORE
Marketers, they’re just like us…because they’re worried about economic conditions and don’t want to talk politics.
That’s one of the findings from the most recent iteration of the biannual CMO Survey, led by Deloitte, Duke University’s Fuqua School of Business, and the American Marketing Association. This year’s 30th edition clocks in at 73 pages of findings from more than 300 marketers, most at the VP level or above, in the US.
The report includes their takes on topics from budgets to job function to political stances. Here are a few highlights. READ MORE
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