Catalyst's (a Horizon Media Group) research shows that consumer blame for inflation is shifting toward corporate greed.
The report claims that brands must build consumer trust and loyalty by increasing transparency and contributing to important causes.
52% of consumers blame corporate greed for inflation, compared to 42% who blame government spending.
- According to the report, consumers increasingly utilize buy now, pay later (BNPL) payment methods for purchasing goods and services. The total amount spent using this method will grow 19% to $112M in 2023.
- The shift in consumer blame and increased financial strain are eroding brand trust.
- Maintaining consumer loyalty includes giving back money to consumers, supporting charitable causes, matching donations, and pledging not to increase prices.
- The report is based on a survey of 900 adults and an analysis of online conversations, content, and financial reports.
