Now is the time to consider discounts

rhhira06

Continuous warnings of a US recession show that 30% of respondents during the summer of 2022 purchased less and paid more attention to how they spent money as compared to previous months. Moving into the Winter of 2022, 30% of respondents said they were making little to no purchases due to warnings of a recession, with 24% being more conscientious about spending money than in previous months. Respondents whose spending hasn’t been impacted by the news also dropped from .

What does this mean? For brand leaders or marketers challenged with getting goods off the shelves, it’s time to get creative and stay connected to those who are tightening their wallets, but may still purchase items within their new budget or have a decent Algeria WhatsApp Number return on investment. , sales, deals, or freemium marketing to provide experiences these consumers can’t resist. Breaking Through New Budgets Brands must take into account the significant shift in consumer spending that may occur during the first three months of a recession, or as the cost of goods and services continues to rise.



64% of consumers polled during the summer said they would decrease or continue to decrease their home budget. Interestingly, this percentage dropped to 57% with 27% saying their budget will remain the same, and only 15% saying it would increase. Brands must consider the items that are key to people maintaining some semblance of their lifestyles. While one set of surveys should not be the sole basis for completely revamping your entire marketing strategy, necessities should be the current focus instead of higher-priced or luxury items.