Thus, the retail sector could moderate the effect of inflation

Mexico. – With the reactivation of the economy and the latent conflict in Ukraine, global markets face major challenges to achieve financial stability. That’s why retail sector they will have to devise strategies to contain the crisis despite inflation, customer dissatisfaction and resource constraints.

Latin America was one of the regions most affected by inflation problems. And the mismatch between supply and demand has caused high energy costs, a shortage of labor, a lack of raw materials, as well as a constant increase in the prices of food and basic baskets.

Inflationary times require better understanding Consumer behavior, with a focus on how customers’ needs and buying habits are constantly changing. So, dunnhumbyan expert in customer data science, developed the Consumer Pulse survey.

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Data from a study on the retail sector

The study showed that more than 50% of customers Globally, they claim that their money doesn’t go as far as it did a few months ago. Thus, the rise in prices, accompanied by intense advertising around them, has led to a new reality in which perception far surpasses reality.

In this sense, marketers and brands must respond to the demands of the current context, sympathize and apply estrategias Customer first which allow the client to reduce the burden caused by the price impact, since Latin American customers perceive a price increase of up to three times what it really is.

Retailers and brands should consider how consumers feel about inflation and create strategies that put consumers at the center of decision-making, such as revising their key value lists (KWIs) to take into account the needs and buying habits that are may have changed during the pandemic,” he said. Adriano Araujo, president of dunnhumby for LATAM.

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