How can creativity best support businesses in a market where there is economic uncertainty?

In 2022, Google searches for ‘Recession' increased by 355%. However, despite the prevailing concern, the labor market is strong, and economists remain unsure about whether a recession is inevitable. With a backdrop of economic uncertainty, creativity can help businesses evolve and innovate with intentionality, adapting to ever changing customers needs with a more honest, empathetic approach.

Wes Barton, Co-founder and General Partner (Third Prime)

By helping businesses find fresh ways to access and connect with their consumers, creatives enable businesses to redefine their relationship in a way that is more tailored (and ideally more durable) for the new paradigm.
Connect emotionally. Create new offerings. Broaden the aperture.

Lian Han

Amit Sharan, VP of Marketing (Tatari, Facebook)

In a cost-conscious climate, customers will always consider a better deal. Creativity can support businesses (B2C or B2B) by reinforcing their vision and core differentiators to customers. A business with a strong brand identity, unique positioning, and clear messaging can expand the customer's decision-making process beyond the price.
By helping businesses find fresh ways to connect with consumers, creativity can enable businesses to redefine their customer relationships.

Wes Barton

Nick Monkhouse, Co-Founder (A LINE)

At a time when consumers seek trust, empathy, and a clear sense of purpose from brands, creativity can be the force that cuts through the noise to drive these moments of connection, differentiation, and reinvention. When times are tough it's essential businesses remember this and do everything in their power to harness and use this creativity to shape their futures. Tough times don’t last forever, and the brands that do this will build deep, long-lasting audience relationships that ultimately allow them to thrive.
A business with a strong brand identity, unique positioning, and clear messaging can expand the customer's decision-making process beyond the price.

Amit Sharan

Lian Han, Global Design Director, Retail (Nike)

Use creativity to connect emotionally. This is pretty obvious, but given the amount of uncertainty in our social climate, brands that lead with empathy and connection are going to resonate more powerfully than those that don't.

As customer behaviors shift, brands have an opportunity to overcome the language of austerity with a refreshing level of humor and ingenuity.

Tim Armitage, Brand & Marketing Strategist (Disney, Instacart, Best Buy)

When customers tighten their belts, most brands offer discounts on their goods and services, and the visual language of markdowns often feels separated and austere. I think brands must counteract the drudgery of hard times with humor, ingenuity, and humanity - using empathy to endear customers. For example, you can take a hi/lo approach to merchandising and curation by combining full-price and marked-down offerings in a way that still elevates the brand, yet provides cost-sensitive solutions.
People are spending through a funnel, prioritizing the products and experiences they really want above all else. Creative energy needs to be spent making sure the brand is right in the middle of this funnel.

David Kahan

Tara Bloom, Writer and Content Strategist (A LINE, Third Rock Ventures)

Brand and creativity must communicate value while making a positive emotional connection. Providing a contrast to the negative emotions of cutting back, without sounding tone-deaf, to attract customers.

Lian Han, Global Design Director, Retail (Nike)

One of the ways I've seen brands appeal to consumers in uncertain times is collaborating or partnering with other brands in new and innovative ways. Particularly in fashion, Birkenstock, Crocs, and high fashion brands like Moncler have all invested heavily in programs and collaborations that allow their products to reach beyond their typical customer set.
Brands must counteract the drudgery of hard times with humor, ingenuity, and humanity - using empathy to endear customers.

Tim Armitage

David Kahan, CEO (Birkenstock)

This is the misconception. People aren’t necessarily “cutting back” - they are shifting buying patterns. Random shopping is dead, but intentional purchasing has never been stronger. People are spending through a funnel, prioritizing the products and experiences they really want above all else. Creative energy needs to be spent making sure the brand is right in the middle of this funnel. For example, Taylor Swift announces a tour, and tickets sold out in a second. I’m sure her manager didn't say “maybe we should wait to announce the tour till people are spending more?”. Creative energy is what drives demand, and gives people the enjoyment, satisfaction and value they crave from products and experiences (ie Seeing Taylor Swift live… Wearing a Birkenstock)

And as buzzwords like ‘resilience’ and ‘agility’ continue to be thrown around as ways of overcoming unprecedented change, creativity can help brands develop a deeper understanding of their customer, to grow ‘agile’ with a more meaningful approach.

Steve Jones, Director of Marketing (Tawkify)

Brand marketing allows brands to create and foster an emotional connection with their customers, and to meet them where their needs are, or may have shifted. Brands are going to have to be nimble and flexible enough to adjust product offerings, allow for discounts, and convey to customers that the brand will meet their needs, wherever they are.

Chris Heimbuch, Head of Product Design, Advisor & Coach (Block, Sonos, Roblox)

Following 2 years surviving the pandemic and political turmoil, we now have a global economy that continues to be trampled. Citizens across the world are weary and exhausted. And with a US recession looming, surviving these days is just not easy. People are tired, they are worn out. They are scared. These times require creative work that communicates, 'We see what's happening and we want to support you'. Instead of speaking about 'innovation', reassure customers that you're really talking about safety and creating a safe environment for them (whatever that may be). Use language that reflects this moment in history. Instead of saying we're here to help you to 'live your best life', address that as a company, in addition to making things to enhance a person's life, you want that life to be a healthy one. And to an extent, communicate that's why you do what you do.
With more ways of engaging and interacting with consumers than ever, brands now have the opportunity to be responsive and actionable when addressing customer needs and concerns.

Persis Shroff

Lian Han, Global Design Director, Retail (Nike)

When the economic climate is uncertain, use the opportunity to explore and create different offerings, specifically ones based on new purchase behaviors. At Nike, when we were struggling with supply chain issues coming out of COVID, we were also trialing circular offerings (like re-constructed and vintage product) to test market appetite. While this may not be a substantial portion for our future business, it did hit the market at a moment when generational shifts to vintage and repurposed product is growing and the second hand resell market is soaring.

Christine Takaichi, Strategy Director (Wolff Olins, Character, Collins)

Creativity is all about working around constraints. Customers are rightfully more discerning in this climate, so brands need to be resonant, differentiated, and flexible - all qualities driven by creative thinking. When the usual playbooks are pared back, companies will need to draw on creative solutions to stand apart from the pack.
People are tired, they are worn out. They are scared. These times require creative work that communicates, 'We see what's happening and we want to support you'.

Chris Heimbuch

Persis Shroff, Brand & Program Leader (Google, PayPal)

With more ways of engaging and interacting with consumers than ever, brands now have the opportunity to be responsive and actionable when addressing customer needs and concerns. Social media gives a powerful voice to consumers while enabling brands to proactively engage and connect.

Julie Roth, Brand Strategist & Writer (Discord, Venmo, EA Sports)

By keeping it simple. If you’re fortunate enough to have a customer’s attention in an uncertain economy, you need to communicate the benefits of the business as quickly as possible. If people can understand a creative concept simply and with ease, there’s a better chance the business can break through.
FUTURE INSIGHTS
In times of uncertainty, the optimistic power of creativity is no less relevant.
Creativity can grow the heart of business. Not simply share it with the world.
Brands can use creativity to find a clearer sense of purpose.
With a clearer sense of purpose, brands can adapt more easily to the future.
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