Macroeconomic State of Retail: Consumer Behaviors and Business Decisions Through Recession & Inflation
26th April 2023, 11:00 – 11:45 CET
Sounding the alarm over inflation, economists are becoming increasingly convinced that the economy will come to a grinding halt, agreeing that Europe is in store for a recession this year. As the economy opened back up after years of uncertainty, retailers have seen challenges with both top and bottom lines. The warning signal of recession poses significant challenges for retailers and the industry is likely to face a more challenging growth environment. It is of utmost importance that retailers establish new work patterns and strategies in order to prevail in the economic slowdown.
In this 90Minutes Episode, we will dissect the current state of the global economy and how it affects the retail industry. Learn more about consumer behaviors and change management during an economic slowdown.
In this 90Minutes Episode, we will dissect the current state of the global economy and how it affects the retail industry. Learn more about consumer behaviors and change management during an economic slowdown.
Hosted by:
Marko Sarstedt
Chaired Professor of Marketing, Ludwig-Maximilians-University Munich
Chaired Professor of Marketing, Ludwig-Maximilians-University Munich
Herma J. Bouwer
Global Director Supply Chain & Operations, GrandVision
Global Director Supply Chain & Operations, GrandVision
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Consumer Trends: Understanding the Effect of Sensory Marketing on Customer Loyalty in an Economic Slowdown
Marko Sarstedt, Chaired Professor of Marketing, Ludwig-Maximilians-University Munich
With the wave of bad economic news comes eroding consumer confidence and buying power. As the economy slows down and inflation pushes prices higher for a range of goods and services, shoppers are feeling the pressure to adjust their behavior and the spending habits are shifting. Applications of different marketing strategies can distinguish products from each other and simplifying consumers’ decisions in choosing an appropriate product. However, improving and sustaining your brand position is not a simple task in the current competitive and uncertain environment.
In this session, a Marketing Professor will put Customer Loyalty under a microscope. Learn about how Sensory Marketing can help retailers to influence customers’ senses and evoke emotions affecting their buying behavior and perceptions of a product and a brand.
With the wave of bad economic news comes eroding consumer confidence and buying power. As the economy slows down and inflation pushes prices higher for a range of goods and services, shoppers are feeling the pressure to adjust their behavior and the spending habits are shifting. Applications of different marketing strategies can distinguish products from each other and simplifying consumers’ decisions in choosing an appropriate product. However, improving and sustaining your brand position is not a simple task in the current competitive and uncertain environment.
In this session, a Marketing Professor will put Customer Loyalty under a microscope. Learn about how Sensory Marketing can help retailers to influence customers’ senses and evoke emotions affecting their buying behavior and perceptions of a product and a brand.
Frequency of Change: Weathering the Storm and Emerging as a Winner During Economic Ebbs and Flows
Herma J. Bouwer, Global Director Supply Chain & Operations, GrandVision
Between the expanding regulatory environment, global uncertainty and digital innovations, a number of business challenges that impact company strategies have ballooned over the past decade. Change management has been receiving increased attention recently and is undergoing a significant evolution in its uses and development. Even if the future is uncertain, its indubitable that the world will continue to change, and organizations will have to change with it.
In this session, we are joined by Herma J. Bouwer, Global Director Supply Chain & Operations of GrandVision, to explore the ever-changing retail environment and how to manage change, uncertainties, and challenges.
Between the expanding regulatory environment, global uncertainty and digital innovations, a number of business challenges that impact company strategies have ballooned over the past decade. Change management has been receiving increased attention recently and is undergoing a significant evolution in its uses and development. Even if the future is uncertain, its indubitable that the world will continue to change, and organizations will have to change with it.
In this session, we are joined by Herma J. Bouwer, Global Director Supply Chain & Operations of GrandVision, to explore the ever-changing retail environment and how to manage change, uncertainties, and challenges.
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