How brands can successfully cope with inflation and keep growing in the Consumer Technology and Durables industry
The market has remained in flux throughout 2022. Brands need to mitigate the rising inflation and often believe the best way to counter the costs is by scraping, or reducing their marketing budget. However, other solutions have proven to generate growth in times of crisis, such as:
Continuing to invest in the marketing strategy and differentiate with a premium offering.
Focusing on brand building and ensuring that all teams in the organization have the same priorities.
Ensuring that internal teams collaborate to offer consistent brand positioning
Understanding the target audience and their spending behavior.
With many top level executives feeling the pressure of rising inflation costs and constant forecast changes, it is difficult to know where to invest and what costs to cut, to reach sustainable growth.
Watch our summarized insights video to hear about inflation coping strategies from Madalina Carstea, Head of Global Sales at GfK, and Jutta Langer, Vice President of Consulting at GfK.
Download the full State of Consumer Technology & Durables 2022 report to receive all of the latest trends and expert insights from our analysis experts at GfK, and maximize business opportunities during a period of uncertainty.