Stay Home or Go Out? Can the New Roaring 20's Survive Soaring Inflation?

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. How will the US-Israel-Iran war shape business dynamics beyond the initial shocks? Visit our insights hub at euromonitor.com for free data-driven tools and resources to help you assess risks and plan for longer-term impact. Lots of brands claim to be number one… but can they prove it? At Euromonitor International, we help brands build trust through evidence-based research. Our claim validation service ensures your marketing messages are backed by real data. Stand out in a crowded market. Visit euromonitor.com/claims to learn more.

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Stay Home or Go Out? Can the New Roaring 20's Survive Soaring Inflation? is an episode from Euromonitor Podcasts by Euromonitor International.

This episode is 32:10 long.

This episode was published on Feb 17, 2023.

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