Good morning, Marketer, put your feet up and take a deep breath.
Summertime, and the markets are nervous; there are layoffs and inflation is high. Last time it was anywhere near the current 9.1% was 41 years ago. In 1981 it was 10.3% and believe it or not, that was good news. The two prior years it had been even higher. Today, despite rising prices, hiring numbers remain very, very good. For the moment, talk of a recession remains just that. So, what’s a marketer to do?
The prudent move is to plan for the worst and hope you’re wrong. Maybe put together a little top-secret contingency plan for budget cuts. That way you can be smart about it. It’s really not something you want to do at the last minute. And you may never need it. After all, those three years of really high inflation 40+ years ago were followed by an economic boom.
Constantine von Hoffman,
Managing Editor
