Buy Better - Consumer Strategy for Inflation (Trend Overview, Consumer Insight and Brand Implications)

Buy Better - Consumer Strategy for Inflation (Trend Overview, Consumer Insight and Brand Implications)

Summary

Global consumers are experiencing financial concerns around inflation prices as wider economic uncertainty pushes prices up. Fuel, energy, and raw material costs are having a knock-on effect on supply chains that consumers are having to pay for at the till. Many consumers may also have employment and salary concerns as jobs and wage increases are also affected as businesses feel the same pressures. All these things are leading to tighter household budgets across markets, with consumers having to choose which strategies they will employ to help see them through tough times. This brief report will focus on the first of these two strategies-'buy better'.
Global consumers are experiencing financial concerns around inflation prices as wider economic uncertainty pushes prices up. This brief report will focus on the first of these two strategies-'buy better'.

Scope

• Develop multi-purpose and multi-benefit products that justify value for consumers
• Offer products that offer emotional benefits and value and are perhaps in place of other activities
• Cater for consumers who want quality products that will last longer or offering more traditional style/variant options less likely to be

affected by trends
• Invest in sustainable solutions Paying extra for sustainable solutions may be a point of difference

• Understand multiple trends and company Reponses in order to tap into what is really impacting the industry.
• Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
• Access valuable strategic take-outs to help direct future decision-making and inform new product development.