Rising costs and shrinking wallets: How shoppers are tackling inflation

Room 1 | 4:45 pm - 5:15 pm | Monday, March 27, 2023

In a recent Forbes article, it was stated that people often have to decide between paying more for everyday essentials, trading down to lower-cost alternatives or forgoing purchases entirely. Euromonitor projects a significant downturn in the global economy this year with real GDP expected to slow to 2.6% and inflation hitting 6.4%.

In our explorations we’ll uncover the consistencies and discrepancies in the decisions they’re making and identify which categories differ from the norms and why. We’ll dive into these complex decisions people are making every day with real human stories.

In this session, we’ll share our conversational insights with consumers to understand what problems they’re trying to solve and what’s most important to them when making purchase decisions.

Key takeaways:

1. A deeper understanding of consumer problems and decision-making criteria when considering how to spend their money during an economic downturn.
2. How to create an empathy program designed to unlock an ongoing understanding of the people you care about most to make critical business decisions.
3. How other brands are tackling the inflation problem in their businesses and what you can learn from companies in parallel industries.