ONS Figures Speak Volumes for the Current Climate, says Merkle’s CXO

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Retail sales rising in April is unexpected, but the reality is we’re starting to see the real impact the cost-of-living crisis is having on people’s lives. While spending increased, consumers ended up with 4.9% less things – speaking volumes for the current climate. Consumer confidence has also dropped to lowest levels since records began amid a 40-year high inflation rate. Among all the uncertainty as well as energy prices rocketing, global supply chain pressures, and the war in Ukraine, consumers will be a lot more careful where they spend their money.

Consumers will focus on keeping household spending down. However, they will not forget about how a brand made them feel during tougher times. Brands need to just simply talk to their customers, and keep them active and engaged. It’s through these conversations that they will understand and empathise with what’s going on in people’s minds so that once impacts subside, their loyal customers haven’t moved at all.