Economists are warning that we may be already in a recession — and consumers and retailers are already feeling the impact. According to the latest figures from the US Bureau of Labor Statistics, groceries are up 12% in the past 12 months, with used cars and energy up by 16% and gas up by 49%.
What consumers are saying
The TransUnion quarterly Consumer Pulse Study explores how consumers’ personal finances and spending behaviors have changed and what they expect in the future.
A blog by Neustar, a TransUnion company, delves into these questions:
- Financial optimism: How do consumers feel about their spending power?
- Inflation: Are consumers changing their spending habits?
- Generational impact: Do all ages of consumers have the same level of concern?
How retailers can weather the downturn
When markets are highly volatile, retailers often bear the brunt of the consequences, which increases pressure to deliver returns on all investments, including marketing.
Using predictive analytics tools can help you identity how to improve your campaign performance and to ensure you reach the right audience with your marketing spend, all paramount to successful data-driven marketing in a volatile economy.
To learn more, read the full blog post.