After a booming summer for socializing, things are starting to cool off. Inflation and the cost-of-living crisis are catching up with consumers who might still have some pent-up desire to go out. These conflicting desires leave consumers dangling between spend and save, while still looking for ways to continue their social lives. So what are they doing? How are people getting together when money is tight? On the tail end of the holiday season and as the popular “dry January” ends, our expersts discuss what’s next in this transitional time. Join Michael Shaefer, Spiros Malandrakis, and Zora Milenkovic as they discuss: Will financial pressures cause a decline in spending on social occasions? Or is there enough pent-up desire to outweigh the costs? Or will consumers simply find different, perhaps cheaper, ways of getting together? What opportunities exist for brands in this evolving landscape?
Want to learn more about the biggest consumer trends this year? Check out our new report Top 10 Global Consumer Trends 2023, where you'l learn about Budgeteers, Here and Now, and Young and Disrupted.
00:04:45 Affordable luxury indulgence.
00:10:43 Consumers shifting to experiential on-trade.
00:16:31 Nostalgia drives consumption habits.
00:21:48 Premiumize, but be mindful.
00:25:00 Premiumize experiences, not products.
00:30:03 Adapt to changing consumption trends.
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