Changing behaviour and focusing on the fundamentals: Your Marketing Week
At the end of every week, I look at the key stories, offering my view on what they mean for you and the industry. From new data showing consumers are becoming increasingly cost conscious to Unilever’s CMO underlining the importance of getting product and price right before looking at purpose, it’s been a busy week. Here is my take.
Reality bites
I write just 24 hours after returning from Cannes Lions. It feels like an age ago. This is not a preamble to a newsletter regaling my fabulous week. I have returned to news the Bank of England has raised interest rates to a 15-year high, a related ticking time bomb for the thousands whose fixed rate mortgages are about to come to an end, and that UK Government debt is more than 100% of GDP for the time since the pre-war era. None of this, or another country’s version of the maelstrom, was part of anyone’s small talk on the Croissette. Or in most content sessions. This is fine, and understandable. As Marketing Week columnist Tom Roach once said, Cannes is about celebrating the best version of the marketing services industry to itself. It’s not here and now reality. Sun, sea and rosé are not components to a discussion about macroeconomics.
