As consumers respond to inflation, they generally seek “transactional” savings that make buying things cheaper, “accrued” savings where they put money in the bank, and “sanity” savings that reduce inconvenience and wasted time.

Why it matters

Marketers may be logically tempted to emphasize discounts and savings plans to consumers during high-inflation periods. But by acknowledging that people continue to spend money, albeit on different things, during economic turbulence, brands can navigate inflation more holistically.

Background

Derek Stubbs, senior director analyst at Gartner, outlines three main types of savings that businesses might utilize in appealing to frugal customers.

• Transactional savings:...