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News 5 May 2022 - 1 min read

The Big Squeeze: Panic buying of essentials, booze ahead as supply chain crunch and rate rise bites, warns iProspect

By Staff writer

Pic: iStock: S White

The cost of living squeeze and supply chain crunch could lead to a repeat of panic buying and changes to the way people shop and socialise, according to a new report by Dentsu’s iProspect.

What you need to know:

  • Belt tightening, shopping habit changes ahead as prices and rates rise
  • Whitepaper outlines impact for key advertiser categories

We’re being battered by rising petrol costs, inflation, the usual increases in property prices and rental vacancy issues, along with global supply chain delivery still being impacted by floods and the war in Ukraine,” said report author Sam Cousins, Chief Strategy Officer, iProspect Australia.

“All of this is impacting the cost of daily staples on the average consumer’s grocery bill. In advertising we can see that demand is there, but how do we convert customers who are battling with wanting to indulge in a variety of experiences, products and services, and at the same time trying to keep a lid on their spending? This report explores that.”

The paper outlines the fallout for categories including FMCG, alcohol, fitness, education, entertainment, electronics, gaming, apparel, betting, streaming and pets.

Key take-outs for advertisers include: ‘don’t go dark’, don’t confuse price with value, invest in dynamic creative, content and SEO.

See the report here.

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