Inflation is profoundly impacting consumers’ relationships with brands, presenting marketers with serious challenges. But could it also hold long-term opportunities for CMOs?
According to Mindshare UK, just 16% of people agree with the sentiment: “I feel confident that I can take this hit with minimal changes.” More than eight in 10 (85%) of us will be on the look-out for cheaper alternatives when shopping.
As inflation rises and more consumers look to save money in any way they can, marketers are having to review their strategies. PepsiCo’s chairman and CEO Ramon Laguarta recently said the company would make retaining consumers the top priority as the cost of living rises.