Inflation Causing Spending Patterns to Shift: MikMak CEO

The video discusses current inflation trends, highlighting that while some consumer goods like food and appliances have stable prices, core inflation is rising. E-commerce conversion rates have declined since 2020, indicating consumer caution. Companies are scrutinizing marketing budgets, leading to strategic spending in channels with clear sales data. Retailers leverage consumer data to optimize marketing. Consumers focus on essentials, with a shift towards cost-effective options in discretionary categories.

What factors are contributing to the current inflation trends mentioned in the text?

How have ecommerce conversion rates changed from 2021 to 2023 according to the discussion?

What marketing strategies are companies adopting in response to low conversion rates?

What essential items are consumers currently prioritizing based on the data collected?

In what ways are consumers becoming more selective in their spending habits?