The current inflationary environment has distinctive features, not least because of the Covid-19 pandemic that preceded it, but there are valuable academic insights from prior financial crises that marketers can draw upon as they aim to develop their strategies in a challenging period. 

Why it matters

When consumers think about inflation, they generally do not rely on the sort of metrics favoured by governments and economic analysts. Just as consumers find their own ways of navigating a spike in living costs, so do brand custodians. Few will have experience of high and prolonged inflationary periods, leaving them to hurriedly work...