The last quarter of 2022 is just around the corner and consumers are already feeling broke. With the conflict between Ukraine and Russia, the rise in energy prices and the general anxiety-provoking climate worry the population financially. In an annual report by Emodo for marketing professionals, we learn without much surprise that financial concerns have increased by more than 150% since last year, while those related to covid-19 have decreased by 52%. at 16%.
Looking at early trends, analysts believe the impact could be stronger than the virus scare was last year. On the occasion of the end-of-year holidays, consumer spending could thus be considerably reduced. The Americans polled announce the color. In 2021, 40% of them planned to increase their spending and today they are only 20%.
Growth will inevitably be weaker this year. Many will wait until the last minute with Black Friday deals and Cyber Monday deals. Online or not, all sectors are likely to be impacted. However, we note that a large number of consumers intend to direct their spending towards travel.
Work to be done
Faced with the current economic situation, some Americans already think that their country is in recession and they logically expect to spend much less. Marketing professionals are thus faced with a major challenge to restore some confidence to consumers. There are several ways to do this:
- Encourage buyers to go to the store rather than online, in order to have a real contact.
- Attracting attention all season long. Purchases will be later and everything is not only played on the end of year celebrations.
- Target more specific audiences and better optimize communication campaigns.
Said like that, it seems almost too simple!