Navigating the cost-of-living crisis
Do you know how to navigate the cost-of-living crisis?
90% of Danes are worried about the increasing prices, and most have already adopted new shopping behaviours. Consumers are trading down or even out of categories to make it possible to keep their living standards. Change has never happened this fast and will never be this slow again.
With the cost-of-living crisis impacting all consumer-groups, nearly all industry sectors can expect to see significant changes in shopping behaviour. Therefore, it is vital that brands assess and re-evaluate what value that they provide, as this assessment might result in the need to adjust the entire marketing strategy. We already see significantly changes in consumers’ search behaviour, and we thus expect brands’ 2023 budgets to be more performance skewed.
Is your brand fully equipped and prepared to deal with the cost-of-living crisis? If not, download our new GroupM playbook below and learn more about:
- What is the cost-of-living-crisis?
- What does it mean for my industry?
- What should I do as a premium/mid-value/economy brand?
- Which change in behaviour and media opportunities arise?
If you have any questions, please reach out to Nicolaj Weber, Strategy Lead, at firstname.lastname@example.org.