Current state of the economy for businesses and consumers
Price increases are skyrocketing worldwide. In Spain, inflation soared by more than 10% in June , reaching the highest rate since 1985. In addition to the decline in purchasing power, consumer confidence is falling, leading to an increase in pre-purchase discount searches or loyalty programs.
Marketing professionals are therefore faced with a scenario in which brands must confidently address the situation and find solutions that meet the changing needs of users .
Inflation and marketing strategies for companies
The most thoughtful companies, budgets and strategies
In this context, companies should focus on the following strategies:
Produce and promote products that work in the market and try to sell them at an affordable price to the public.
Don't waste time and effort on products that don't deliver good results.
Achieving customer loyalty to create a lasting bulk sms poland audience that turns to a brand despite difficult times.
Assess the opportunity to grow through exports beyond the local sector .
That is, companies must find customers who represent the greatest value for their business and optimize campaigns through real results to maximize ROI.
Consumers: less purchasing power but same values
According to the Google Consumer Survey 2022 , presented at an event on September 13 that Súmate attended, more than 75% of users are concerned about the cost of living, so customers are adapting:
Consumer confidence and behaviour are affected by inflation. Rising prices, especially for essential products and services, are of most concern. Customers are not happy with this, as they feel they are forced to bear the rising costs. They are also not in favour of tricks such as reduflation. In conclusion, they prefer more honest and transparent brands.
The digital channel is increasing its opportunity. 70% of consumers search and compare products before making a purchase; digital channels are important in this search. In addition, there are new audiences, such as those over 45 years of age, who are interested in digital searches and purchases.
Choosing the time and place of purchase. 82% of consumers delay their purchases while waiting for discounts such as those on Black Friday.
