I was looking forward to a return of the roaring 20's that I was promised was forthcoming as global economies emerged from the post-Covid shadows, yet it seems talk of a period of economic prosperity and Great Gatsby themed weekly parties has been replaced by debates around worsening economic indicators. JP Morgan CEO Jamie Dimon cited storm clouds ahead on a recent client call in contradiction to Blackrock CEO Larry Fink who has urged calm.
As prices continue to soar, consumer confidence weakens and the cost of borrowing rises some argue that a downturn is already among us.
Sadly for readers I will not be drawn on what lies ahead. The difficulty of forecasting is perhaps best surmised in the quip that Economists have predicted six of the last two recessions. However, as we approach budget season and for the marketers on the call I would recommend they consider further reading on how to manage their marketing strategy should a recession materialise. Look no further than the brilliant Mark Ritson and a recent piece in Marketing Week on nine steps marketers should take to survive the dark times ahead.
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