interpretive economics

SUMMARY

Salsify, a leading e-commerce technology provider, has recently raised over $150 million in venture capital funding to fuel its mission of transforming the online retail landscape. As part of its premium content marketing strategy, Salsify established the Digital Shelf Institute (DSI), a cutting-edge platform designed to provide brand leaders, executives, and other key stakeholders with valuable insights into the ever-evolving world of e-commerce and the digital shelf.

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Collaboration with Interpretive Economics:

To further solidify their position as a thought leader in the industry, DSI collaborated with Interpretive Economics, a reputable research and consulting firm specializing in market trends and consumer behavior. Together, they produced a comprehensive white paper featuring original research that delves into the invaluable lessons that brands can learn from consumer behavior during the Great Recession of 2008-11.

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Key Findings and Insights:

The white paper, titled "Navigating Consumer Behavior in the Digital Age: 5 Lessons from the Great Recession," highlights the importance of understanding consumer behavior and the strategies that companies can implement to thrive in challenging economic conditions.

 

Some key findings and insights include:

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1. Alleviating guilt and demonstrating value: All consumers cut back on spending during the recession, even those without budgetary constraints. Marketing and branding should identify core consumer groups and give them "permission" to purchase by alleviating guilt and demonstrating value.

2. Challenges for mid-market brands: Mid-market brands face a difficult period as price competition with private-label goods and cheaper alternatives is likely to intensify.

3. Capitalizing on hedonistic impulses: Premium brands can capitalize on the hedonistic impulses of high-income, economically insulated consumers by enhancing their premium, indulgent image.

4. Seizing market share opportunities: Brand loyalty and market share are up for grabs. While the overall size of the market may decline, brands that can demonstrate value have the opportunity to capture market share as consumer habits break down and spending choices are reconsidered.

5. Maintaining marketing budgets: Now is not the time to cut marketing budgets. Brands that continued to spend during the Great Recession outperformed those that cut back.

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Promoting the Report:

To maximize the impact of their white paper, DSI and Interpretive Economics engaged in a multi-channel promotional campaign. Steffan, the lead author of the report and a renowned expert in e-commerce, appeared on DSI's podcast and YouTube channel to discuss the findings in detail. This allowed the audience to gain a deeper understanding of the content and its implications for their businesses.

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Additionally, Interpretive Economics acted as a source for press inquiries, ensuring that the white paper's insights reached a wider audience through news outlets and industry publications. A press release was distributed to generate further buzz and drive more traffic to the report (press release)..

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Download the Report:

To access the full white paper and gain invaluable insights into how your brand can navigate consumer behavior in the digital age, download the report here. By leveraging the lessons learned from the Great Recession, companies can better position themselves to thrive in the ever-evolving landscape of e-commerce and the digital shelf.

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CLIENT FEEDBACK

“Brand manufacturers are navigating a ton of change as they adjust to a recession, a pandemic, and massive shits in consumer behaviour. We are pleased to have partnered with Interpretive Economics on this important study and hope it provides insights for opportunities amidst continued upheaval as brand leaders plan for 2021 and beyond.”

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Peter Crosby, Executive Director of the Digital Shelf Institute