Original article by Roy Morgan
Market Research Update – Page: Online : 3-Aug-22

Roy Morgan CEO Michele Levine, Southern Cross Austereo’s Jasmine Beech and veteran qualitative consumer researcher Neer Korn unpack what’s coming down the track in a new podcast. Social market researchers think the deepening cost of living crisis will play out very differently to Covid. But there are parallels with previous bust cycles. The "lipstick effect" comes into play, and certain categories – homeware, necessities, some everyday luxury branded goods – should hold up. While 70 per cent of Australians report making some cutbacks, a quarter of the population will keep spending – and brands shouldn’t think about discounting to that cohort. For the broader population, retailers must communicate price hikes honestly or lose community trust earned during Covid.

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