Where are we headed? What do we need to get there? Marketers are asking themselves critical questions like these in response to a myriad of ongoing social and economic situations.
Consumers are grappling with the new, post-pandemic world which includes an environment of economic uncertainty. The supply chain and inflationary issues that stemmed from the COVID-19 pandemic, the conflict in Ukraine, and, most recently, rising interest rates have all had a trickle-down effect that has dampened consumers’ spending power while also increasing anxieties about the future.
In the year ahead, brands need to address the current concerns of customers without increasing anxieties. They will need a healthy balance of initiatives showing social and economic awareness, how brands can help, along with elements that bring joy and laughter to what could be a rough stretch for some consumers.
Whether through added value and benefits, additional savings opportunities, or simple social endeavors meant to lessen the negative influences of today’s world, brands that show their customers they are here to support them will stand to strengthen their brand identity for years to come.
In a world where customers may be tempted to shop for products that better suit their current needs, brands will need to reward loyalty, stress value, create personalized experiences, remain connected and engaged, and ensure customers know they have their best interests in mind.
Mintel Comperemedia is previewing a collection of key trends that will impact marketers and brands in 2023 by shining a spotlight on inflation. Explore what inflation means for brands and marketers in the Financial Services, Insurance, and Telecom & Media spaces, as well as specific trends for Omnichannel Marketing, by downloading the free ebooks. Watch this space for details about the full, in-depth Mintel Comperemedia 2023 Marketing Trends releasing January 2023!
