After a booming summer for socialising, things are starting to cool off. Inflation and the cost of living crisis are catching up with consumers who might still have some pent-up desire to go out. These conflicting desires leave consumers dangling between spend and save, while still looking for ways to continue their social lives.
With the holidays approaching and inflation surging, value is at top of mind for many consumers. But value is more than value for money, and the pursuit of value is here to stay as one of the 10 most influential megatrends identified by Euromonitor International as having far-reaching impact on industries, companies, and consumers. In this podcast, An Hodgson explains all about the Pursuit of Value – where it comes from, why businesses should pay attention, and how can they win with this megatrend.
Experience More is transforming in the current climate due to inflationary pressures eating into consumers’ discretionary spending, yet the desire for experiences regardless of channel – in real life or the metaverse – remains unabated. Brands are adopting a ‘less is more’ approach, with no-frills, removing filters, reducing choice and knocking down barriers to ensure that brand experiences are inclusive and appealing to all, opening up new opportunities to forge long lasting connections.
With inflation being the highest in 40 years, we discuss its impact on airline players, their operations, debt structures and pent-up consumer demand. We focus on the importance of rising oil prices and the increasing issues with staff shortages in the aviation sector. Find out more about the latest insights and data from Euromonitor's Senior Project Manager, Nadejda Popova.
Inflation is now top of mind for economies, businesses and consumers alike. Rising prices affect consumer purchasing power, while resulting in changes in their spending and shopping behaviour. Growing production costs due to higher raw materials and transportation prices, being coupled with shifting consumer behaviour, mean companies now need to adjust their strategies in order to retain customers, profit margins and growth momentum.