Industry TalkRegular Industry Development Updates, Opinions and Talking Points relating to Manufacturing, the Supply Chain and Logistics.
Savvy consumerism – what brands should do to navigate the crisis
The cost-of-living crisis continues to cause havoc as sales growth remains sluggish. People are hunting for good bargains but will not spend money unless absolutely necessary.
Price rises are unavoidable for retailers, and 2022 will be the year of savvy consumerism. However, businesses must not forget that consumers still want retailers to offer products that align with their sustainable and ethical values, but these cannot come at a premium price. The focus needs to be on creating more quality and affordable products.