2023 has just begun, and the word ‘recession’ is at the forefront of brand and consumer conversations. For retailers, an economic slowdown will call for a good look at where they’re spending, where to cut back, and how to refocus growth. For customers, a cost-conscious approach means choosier purchasing habits. While the economy may look bleak at the moment, we do have some good news. Prioritizing customers in difficult times can lead to opportunity, loyalty, and growth. The looming question is: How can brands continue to stand by their community and drive success in a challenging climate?
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