You’ve seen me post / present a lot of data and perspective on consumer reaction to inevitable price increases. With all the swirl in the news cycle, I wanted to recap the three tent-poles I’m keeping in mind:
1.
Inflation is probably going to get pretty bad, per data & perspective reported by Brian Choi, CFA.
2.
Consumers will not behave in consistent ways – they’ll choose some categories to trade down, and others to even trade up, as outlined by J. Walker Smith.
3.
Winning brands will leverage customer experience to mitigate the pain of these inevitable price increases – the simplest way being to ease the ‘mental work’ consumers will have to do to navigate ongoing price increases, as reported by Sigi Hale, Ph.D., Bill Godsil, Mary Mathes and my other brilliant teammates at Alpha-Diver.
We can bust inflation, simple as 1-2-3.
