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Doing right by your customers or safeguarding your business? Finding the balance in a cost of living crisis

12 Mar 2024
Consumer Stage
Consumer
The cost of a can of Heinz Baked Beans has increased by 40% in the last year. A cupboard staple that for many has become unaffordable. The inflationary backdrop of recent years has presented myriad headaches, with the grocers in particular accused of 'greedflation' and under investigation by the CMA, with their CEO salaries raising eyebrows amongst MPs. Despite many businesses' commitment to keeping prices low and spending billions on doing so, coupled with an eagerness to lead the pack in keeping prices competitive, the inflation battle is far from over. We bring together leaders from across the industry to discuss the challenges inflation has posed to their business and how they've tackled them. We'll explore: The societal implications of the cost-of-living crisis and changes in the ways consumers are spending The price increase conundrum; balancing the need for healthy profitable businesses that fuel job creation with the absorption of price rises and its impact on the bottom line Creative and sustainable examples of cost cutting that don't damage your business or your relationship with your customers