It’s no secret that we’re in a period of financial turbulence. A cost of living crisis – being exacerbated by the constantly rising cost of energy – is hitting people’s finances hard. As their fixed living costs ramp up, the amount of discretionary income they have to play with diminishes, and that means they’re being much more discerning about where they spend their money.
This will put increasing pressure on businesses (many of whom are already facing energy and cost difficulties of their own) as customer spending contracts. Businesses with digital products and apps therefore face a major challenge in demonstrating their value to customers, and try to grow (or at least maintain) customer spend in the months and years to come.
Continue reading “Product development priorities in tough economic times”
