Regardless of whether we’re heading into a recession, inflation is here and hitting shoppers and retailers hard. Overall prices continue to increase with the Consumer Price Index reaching an all-time-high in June ’22 at 9.1%, rising +8.3% over the last 12 months. The combination of rising prices, increased cost of living and ongoing post-affects from COVID are driving economic uncertainty and shoppers are feeling the impact and starting to tighten their wallets.
Our Recor Intelligence team took a deep dive into how these economic trends are impacting the shopper and how suppliers and retailers can armor themselves to weather the storm.
In the 1st edition of our Blue Paper series titled, “Recession and Inflation, Oh My!” we cover key topics such as:
• Store departments most impacted by price increases
• Increased demand for private label options
• Impact on overall shopping behaviors
• Driving brand loyalty through shifting economic trends
• Attracting new shoppers with in-store and online tactics
Reach out to RecorIntelligence@recorgroup.com or Schedule a Meeting with us to sign up for our newsletter to learn more!