Is “Funflation” Here to Stay?
Update: 2024-07-18
Description
The pandemic has shifted consumer priorities towards experiences over material possessions, leading to a resurgence of old marketing strategies like couponing and mailers. Consumers are willing to spend more on experiences, especially for their children, but increased costs may lead to a reevaluation of spending habits. Marketers are exploring creative ways to enhance consumer experiences, such as through cross-promotional offers and mobile integration, to capitalize on this trend. The concept of 'funflation' as a marketing strategy balances the need to grow and engage with target audiences while acknowledging economic constraints.
In this episode, we dive into:
In this episode, we dive into:
- Prioritizing experiences over material possessions
- Consumer spending habits post-pandemic
- Inflation's impact on spending habits and marketing strategies
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