Though inflation in a number of markets is coming off the boil, it remains a powerful factor. In 2022, a source of friction rarely seen in our prior surveys entered the field: inflation. Beyond meeting consumers where they are-physically and psychologically-companies must invest to ensure that they’ll be able to meet them where they will be in the future. They must identify, isolate and mitigate the many frictions that stand between them and their customers, and between their customers and optimal experiences. The survey makes it clear that companies must go beyond responding to consumers’ evolving attitudes, actions and aspirations. And as more of everyday work and leisure life continues to go digital, mobile and virtual, concerns about data security and privacy remain a significant source of friction. They’re continuing to experiment with the next generation of digital platforms, including the metaverse. Consumers are seeking less friction-but that doesn’t necessarily mean opting only for e-commerce, or for physical experiences that are entirely mediated by technology. Yet, even as they take defensive actions, consumers remain resilient, demanding and eager to experiment. The demand and supply shocks brought about by covid continue to ripple through the economy and factor into consumers’ decision-making, habits and attitudes.

Buy outlook 2021