With prices skyrocketing, how can brands balance the conflicting consumer desires to have heightened experiences AND simplified inexpensive options? Senior Industry Manager, Caroline Bremner, explains how Euromonitor's Megatrend "Experience More" is transforming in the current climate.
Inflationary pressures are eating into consumers’ discretionary spending, yet the desire for experiences regardless of channel – in real life or the metaverse – remains unabated. Brands are adopting a ‘less is more’ approach, with no-frills, removing filters, reducing choice and knocking down barriers to ensure that brand experiences are inclusive and appealing to all, opening up new opportunities to forge long lasting connections.
What opportunities exist for brands in this climate? How can they use this moment to build brand loyalty?
Want to experience more Experience More? Get more info about the full report here. Or head over to our Inflation Surge Page for more content and to try our Price and Availability Tracker.
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