If there’s a word that perfectly describes the state of the economy in 2023, that must be inflation. Ask any U.S. adult, and they’ll likely be aware of the inflation that has been hitting the American economy since the 2020 global pandemic. Recent studies show that Americans see inflation as the #1 issue facing the country, with 70% agreeing it’s a big problem and 68% revealing that inflation had an impact on their spending.
In a context where people are choosing to cut essential items like gasoline, clothing and health products, it becomes essential for brands and business owners to ask themselves how to effectively market during a recession.
