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Inflation hacks: Marketers on navigating the cost crisis
As inflation hits record highs, showing solidarity with shoppers, refusing to sacrifice innovation and following customer data closely could help brands survive.
Many marketers have little choice but to turn to the history books for advice when it comes to dealing with rampant inflation. Prices are currently rising at their fastest rate for 40 years, meaning there are few in the workplace with any professional memories or practical experience of what that means.
Senior vice-president of strategic growth insights at market intelligence group IRI, Ananda Roy, argues that basing strategies on what happened in the downturn of 2008 could lead to dangerous errors, as circumstances now are fundamentally different.
