The pressure of inflation on name brands is starting to show. Prices slashed. Pack sizes reduced. Budgets cut. Innovation postponed. Advertising on hold. All of which ignores the one sure and proven way to win during downturns. Don’t cheapen the brand.
In October of 1980, The Conference Board (the business and economics organization focused on corporate governance, HR, business ethics, global corporate citizenship, and corporate performance) held a conference titled “Marketing Under Economic Adversity.” The title is apt for today as we are experiencing the highest inflation inn 41 years, at 9.1% in June 2022. We are also experiencing product shortages, population declines, declining consumer sentiment and are expecting recession. Google is limiting hiring. Microsoft is...
Economic volatility and uncertainty have become the order of the day. Some forecasters are using the “R” word (recession). Business is always difficult. In good times firms scramble to add capacity and meet demand while fending off the competition that is inevitably attracted to a robust and growing market. In bad times firms struggle to control costs and to encourage often reluctant customers to buy, while retaining enough personnel and resources to respond quickly when...
Market volatility, tariffs, Brexit, upcoming elections in the US, and economic indicators point to the high likelihood of a recession impacting consumers and brands soon. Last week on Branding Strategy Insider, Corien Kershey offered six recession strategies for B2B brands.
All the signs seem to point to a looming recession. Of course, recessions are almost always driven by emotional angst, and with every nervous sell-off or panicky tweet we set our course more firmly. Humans are nothing if not herd animals.
