Posted on: Jul 15, 2022

Cost of living rise: how to act

Reading Time: 3 minutes

After two and a half years of the Covid 19 pandemic, the start of the war in Ukraine, and other intervening adversities, we are facing a massive economic downturn. In March of this year, inflation in Great Britain was at 8.5%, while in some countries in Latin America it climbed to over 10 points. All this is causing a global rise in prices.

 As a result, habits around consumption are changing, and many households have been forced to tighten their belts. Consumers are looking for lower prices, as well as options and products that allow them to save some money. In Pointbleu we wanted to analyse, after the aforementioned rise in the Cost of Living, how brands are reacting and how they can help us in our daily lives. 

Packaging innovations:

One measure that many brands have taken is to change the packaging and the format of the product. Refillable containers and reusable systems are increasingly on the rise. Not only do they provide us with a more sustainable product, but this reduction in packaging also allows brands to charge less. Supermarket chains like M&S have already begun to provide this type of option to their consumers when they buy products such as legumes, pickles, or nuts.

The Evolution of Ready-to-eat

Another way to adapt to the consumer is to offer prepared or ready-to-cook meals, which allow them to save on time and money. Interesting products that provide added value to the consumer can take the form of dishes inspired by world cuisine, or those that the consumer might not otherwise have considered trying. It is important to remind consumers that prepared dishes can be healthy, tasty and high-quality, and to always accompany them with as much information as possible. These steps are already being followed by brands such as Global Village Foods, which adapts to a range of diet restrictions, such as those of vegans, or Trader Joes, which has developed and launched its range of frozen Gourmet meals.

Celebrating Imperfection:

Another option, which also demonstrates one’s commitment to sustainable production, is the enhancement of “imperfect food”. We are talking about products that, without losing a bit of their quality, are discarded for not conforming to a standard appearance. Companies like the American giant Del Monte Foods have created the first product certified by the Upcycled Food Association, recovering fruit and vegetables that would otherwise have been wasted. As a result, they have obtained a sustainable product with a lower cost for the consumer.

 Network Support:

Finally, as in any aspect of our daily lives, social media has a great impact. As prices go up and up, there will be a growing demand for accounts that recommend and experiment with cheaper products. This will range from generating simpler, cheaper recipes, to providing more detailed analyses of supermarkets based on their products and prices. Without a doubt, having the support of influential people will give your product an indispensable boost.

 At a time like this we have to make everyday life as easy as possible for the consumer. That is why responding to their needs is essential, by providing affordable and healthy products. Given the difficulties felt by many households, consumers are crying out for a break from monotony, and those who can help them do so while supporting sustainability and local production will be held in high esteem. At Pointbleu, we support any brand that can be a ray of light for those who are feeling the pinch, and we are looking forward to seeing new options appear on the market.

 

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