- Index hide
The 2022 Global Consumer Insights Pulse Survey found how inflation has affected consumer behavior globally.
In Mexico, losses in the economy of up to 43 and 70 percent were recorded.
The consumer price index (CPI) in France stood at 5.9 percent in August.
In times of crisis is when the best strategies carried out by brands are the best option to survive. Currently, the whole world is going through a strong economic crisis, where inflation continues to reach many countries, which is why some supermarkets in France are generating strategies to win customers.
The Covid-19 pandemic and the war between Ukraine and Russia have transformed the world economy. Given that, he world Bank revealed in a report that the global economy could soon face a recession in 2023 due to monetary tightening by central banks and rising interest rates.
Likewise, the International Monetary Fund (IMF), He detailed that in July, he had revised down global growth to 3.2 percent in 2022 and 2.9 percent in 2023.
For its part, according to expectations of the central bank, general inflation in Mexico would have paused its escalation in the first half of September, although it would still be well above the official goal.
In this sense, it is highlighted that the median of the projections of 17 participants showed an interannual rate of 8.71 percent for the National Consumer Price Index (INPC), down from 8.77 percent in the second half of August, when it reached its highest level since the end of 2000.
Strategy of supermarkets in France in the face of inflation
One of the countries that has been affected by this economic crisis, especially by inflation, is France, where people are already juggling to jump to be able to buy in supermarkets due to high prices.
The consumer price index (CPI) in France stood at 5.9 percent in August, which represents a fall of two tenths compared to the interannual rate registered in July.
That is why these establishments are gambling on their strategies, launching special and attractive offers to reduce consumer bills at checkout lines and win more customers.
As an example to reduce the impact on purchasing power, supermarkets such as Leclerc, Lidl and Carrefour have hung posters in their stores promoting from an “Anti-inflation shield”, “The helping hand that is worth it” or “Adjusted Prices”.
All try to hide the surveys of the National Institute of Statistics and Economic Studies of the country (INSEE, for its acronym in French), which have been warning that the rise in costs is here to stay for several months.
The first strategies of these establishments began in June in the French brand Carrefour, with its campaign “Adjusted Prices”, where 220 products from large companies will maintain their prices.
Among these protected products are: toilet paper, coffee, powder detergent and orange juice of leading brands. “These are many basic needs, everyday items, among others.
The motto chosen by Carrefour is that “When everything goes up, in order not to tighten the belt any more, we tighten the margins”. Likewise, Stefen Bompais, director of customer experience for the brand, highlighted that French consumers will be able to recognize protected products through label holders or special price labels.
For its part, in May, Leclerc launched its “anti-inflationary shield” that blocks the price of 120 everyday products, selected among the most purchased from October 2021 to March 2022.
while the chain Lidl did the same with “The helping hand that is worth it” that allows its customers to benefit from a coupon, once a month, for a five percent discount on their shopping cart.
These types of strategies are not only being carried out by brands in countries like France, since companies like Zara have also launched strategies to help their consumers in these times of crisis, by accepting deferred payments on their purchases.
Also, in the United States, Walmart implemented a program to sell used products that it sells in its store and all inventory reconditioned to react to inflation and changes in consumer spending behavior.
In conclusion, companies are not far from the situation that the whole world is experiencing when it comes to the economy, so they are aware that if they do not face it with unique strategies they will not survive in this scenario.